The Iranian Steel Producers Association has recently released the statistics of steel export for the first half of the year of current calendar year March 21-September 22 that stated a 26 percent growth in the value of exports.
The volume of iron & steel export rose by 34 percent According to Sources of IRNA, the volume of iron and steel export rose by 34 percent, whereas the total export volume of the entire steel chain witnessed a 45 % rise. Notably, the value of exports for the iron and steel chain in the first half of the year climbed to nearly $4 billion, signaling a 26% growth. According to the report by the Iranian Steel Producers Association, the upward trend in exports of raw materials for the steel chain continues, along with the volume of iron ore concentrate exports doubling in comparison of same period last year, raising concerns among steel producers. Another significant point of this report is the continuing reduction in the export volume of steel products. Apparently, rebar exports that accounted for around 85% of the tonnage of long steel product exports last year, are now reduced by 22 percent.
What did ISPA report earlier about Iran’s steel production?
Earlier, Iranian Steel Producers Association (ISPA) reported that Iran’s steel production climbed to around 15 million tons in the first six months of the current Iranian year. This marks a 3.2 percent year-on-year increase. However, the recent ISPA’s data illustrated that the sector has rebounded from a 4.8 percent contraction recorded in the first quarter. It indicates stronger coordination among producers in securing power supplies during the summer. Significant mills managed to balance production through purchases of green and free market electricity and by using captive power plants, despite severe restrictions on electricity access earlier in the year.
On the contrary, production of flat steel products like sheets and plates reduced due to the weak domestic demand and continued imports, though import voulmes have been trending down. The association stated that such imports are unjustifiable given the large idle capacity if Iranian rolling mills.