Iran's Steel Production Increased Amidst US Sanctions
As per the data released by Iran Steel Producer Association, Iran’s crude steel production in past 11 months stood at 19.6 MnT, up 8% Y-o-Y.
Iranian steelmakers managed to produce 42 MnT of steel (including semis) during the 11 months of current Iranian year (beginning 21 Mar’18-19 Feb’19). The production of steel witnessed a growth 10% on Y-o-Y basis.
It is to be noted that currently the nation is facing economic sanctions from US, owing to which export of steel has declined. As per many industry analysts, overproduction might result to oversupply of steel in domestic market.
Production of semi-finished steel increased by 13% Y-o-Y
ISPA data shows a growth of 13% Y-o-Y on semi-finished steel production. Steelmakers produced 22.69 MnT of semi-finished steel during the period. Billet and bloom have the largest share on semi-finished steel production. Steel producers produced around 13 MnT of billet and blooms while slab production was noted to be around 10 MnT to register a growth of 22% and 4% Y-o-Y respectively.
Production of Finished steel increased by 8% Y-o-Y
Iranian steel mills produced around 20 MnT of finished steel during the period. HRC has the largest share on finished steel production. HRC production was noted to be 7.27 MnT up 3% Y-o-Y. Steel mills produced 2.34 MnT of CRC with a growth of 14% Y-o-Y; coated coil production was 1.27 million tons down by 9% Y-o-Y. Rebar production was noted to be around 7 MnT up by 24%.
source: SteelMint
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