Iran’s mild steel output down 6.7% y/y in 11 months to late Feb.
Iran’s production of mild steel fell by 6.7% year on year in the 11 months to February 18, causing a loss of nearly $1 billion in export revenues, according to figures by the Iranian Steel Producers Association (ISPA).
ISPA figures cited in local media reports on Saturday showed that Iranian steel mills had produced 26.953 million metric tons (mt) of semi-finished steel in April-February, down from 28.894 million mt reported in the previous same period.
Semi-finished steel or mild steel refers to three types of steel ingots, known as billet, bloom, and slab, that are used to make long steel products usually needed in the construction of buildings, roads, bridges, and other infrastructure.
ISPA data showed that Iran’s production of billet and bloom had dropped by 8.4% in the 11 months to late February compared to the same period last year to reach 16.498 million mt.
Steel slab production also dropped by 3.9% over the same period to 10.455 million mt, the figures showed.
The decline led to lower production of long steel products by major Iranian steel manufacturers.
ISPA figures showed that Iran’s production of rebar (reinforcing bar) had dropped by 4.8% in the 11 months to late February compared to the same period last year, while IPE (I-beams) production rose by 3.4% and angle steel and U-steel output dropped by 0.7% over the same period.
The data showed that Iran had produced some 19.938 million mt of steel products in April-February, up 0.4% from the previous same period.
Industry sources and government authorities have blamed energy supply restrictions imposed on manufacturers for the fall in Iran’s steel production this year.
Iranian steel producers faced electricity cuts over the summer, when demand for cooling peaked to record levels. Iran’s Oil Ministry also restricted the supply of natural gas to steel mills over the winter to be able to respond to record demand for heating in the country's household and business sectors.
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