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Iran's four-months finished steel output down 6% on year

Friday, 13 August 2021

Iran's finished steel output decreased to 6.47 million mt over the first four months of the current Iranian year (March 21– July 22), a 6% decrease on year, according to the latest report published by the Iranian Steel Producers Association (ISPA).

Some 2.76 million mt of hot-rolled coil was produced by Iranian mills in this period, 10% less than in the same period last year. Beam and cold-rolled coil production also fell by 9% year on year to 369,000 mt and 871,000 mt respectively, according to the report.

Semi-finished steel output was also down by 4% on year to 9.57 million mt, including 5.78 million mt of billet, down 5%, and 3.79 million mt of slab, a 3% decline, according to ISPA.

The ISPA report noted that 10.58 million mt of direct-reduced iron (DRI) was also produced in Iran during the four-month period, similar to the level of the previous year.

"The main reason for the decline in steel production is the unprecedented hot weather of the last month (June 22 – July 22) and the governmental restriction of electricity consumption by steel mills – which mainly use electric arc furnaces (EAF)," an informed steel industry source told S&P Global Platts.

"However, DRI production has not been affected by the electricity shortage and a part of it is currently being exported as it is not possible to stock it for the coming months," he added.

-- Staff

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