BAKU, Azerbaijan, December 26. The consumption of crude steel in Iran increased by 0.9 percent during eight months of the current Iranian year (from March 20 through November 2024) compared to the same period of last year (from March 21 through November 21, 2023).
The data obtained by Trend from the country's Steel Producers Association shows that Iran's crude steel consumption amounted to about 16.6 million tons during eight months. However, the country consumed 16.4 million tons of crude steel in the same period last year.
Moreover, the statistics added that the consumption of steel products in Iran amounted to 13.3 million tons during the eight months. The consumption of steel products decreased by 3 percent compared to the same period last year. Iran consumed approximately 13.7 million tons of steel products during the same period last year.
The information indicates that the country consumed 27 million tons of sponge iron during the eight months. The consumption of sponge iron increased by 11.1 percent compared to the same period last year. During the same period last year, the consumption of sponge iron stood at 24.3 million tons.
To note, Iran's steel production potential is about 40 million tons per year. Iran plans to increase its steel production potential to 55 million tons by 2025.