Iran’s semi-finished steel output down 4.3% y/y in Apr-Nov

Iran’s steel production fell in the eight calendar months to late November compared to the similar period last year mainly because of electricity supply restrictions imposed on industries over the past summer.

Figures published on Tuesday by the Iranian Steel Producers Association (ISPA) showed that the country's production of semi-finished steel had dropped by 4.3% year on year in the eight months to November 20.

The ISPA said the fall in production had amounted to 0.924 million metric tons (mt) in volume terms, meaning the Iranian steel industry had lost some $300 million in revenues that could have been generated through exports or domestic sales.

Semi-finished steel or mild steel is used to make long steel products, which are then used mainly in the construction of buildings, roads, bridges, and other infrastructure.

The ISPA blamed the fall on electricity supply restrictions imposed on heavy industries, including steel mills, over the summer, when demand for cooling in the Iranian household and business sector rose to record levels.

Its data showed that Iran’s production of billet and bloom had dropped by 6.5% in the eight months to late November compared to the same period last year to reach 12.411 million mt.

Steel slab production also dropped by 0.7% over the same period to 20.414 million mt, the figures showed.

The data showed that Iran had produced some 14.853 million mt of steel products in April-November, down 0.3% compared to the same period last year.

Iran is one of the 10 largest steel producers in the world. The country has reported a steady increase in production and exports of steel in recent years amid a war between Ukraine and Russia that has affected regional and international supplies.

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