BAKU, Azerbaijan, September 20. Iran's crude steel consumption dropped by 1.4 percent during the first five months of the current Iranian year (from March 20 through August 21, 2024) compared to the same period last year (from March 21 through August 22, 2023).
The data obtained by Trend from the country's Steel Consumers Association shows that the consumption of crude steel in Iran for five months amounted to about 9.64 million tons. However, during the same period last year, the country consumed 9.77 million tons of crude steel.
According to statistics, Iran's steel product consumption for five months amounted to about 8.28 million tons. Steel consumption decreased by 4 percent compared to the same period last year. During the same period last year, 8.62 million tons of steel products were consumed in Iran.
The statistics added that the country consumed about 17 million tons of sponge iron during the five months. The consumption increased by 13.6 percent compared to the same period last year. During the same period last year, consumption stood at around 15 million tons.
The information indicates that the consumption of iron ore pellets and concentrate in Iran for five months totaled 49.5 million tons. Compared to the same period last year, the consumption of iron ore pellets increased by 2.3 percent. During the same period last year, 48.4 million tons of iron ore pellets were consumed.
To note, Iran's steel production potential is about 40 million tons per year. Iran aims to increase its steel production capacity to 55 million tons by 2025.