News ID: 203691
Published: 0429 GMT November 03, 2017

Iran's six-month steel demand, export higher as output grows

Iran's six-month steel demand, export higher as output grows

Both Iran's steel consumption and exports over the first six months from March 21 to September 22) had grown amid higher production, data from the Iranian Steel Producers Association (ISPA) showed.

Iran consumed 10.13 million tons of finished products during the period — up 449,000 tons from the year-ago period. Over the same period, steelmakers and re-rollers produced 9.68 million tons of finished steel — up 11 percent year-on- year, Platts reported.

The demand for hot-rolled coil, or HRC, rose 13 percent on the year to 4.05 million tons, while demand of cold-rolled coil surged 40 percent to 1.5 million tons. Rebar consumption however, slipped seven percent to 2.83 million tons.

Semi-finished steel exports rose 29 percent year on year to 3.76 million tons over April-September, but finished steel exports decreased to 576,000 tons, from 1.2 million tons in the year-ago period.

HRC is not the main steel export of the country after the European Commission in October imposed an antidumping duty of €57.50 per ton on Iranian HRC producers.

Meanwhile, Iran's crude steel production rose 14 percent year on year to 10.44 million tons over the six months. Of this, 7.26 million tons was sold on the domestic market, and the other 3.19 million tons was exported. Exports had surged 86 percent year on year, the report said.

Output for the period also included 5.56 million tons of billet and 4.87 million tons of steel slab.

Iran is expected to export eight million tons of steel in the year ending March 20, 2018, according Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

   
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