Figures by Iranian Steel Producers Association (ISPA) show domestic demand for steel increased significantly in the 11 months to late February as steelmakers supplied some 87.8% of their products to domestic customers over the period.
ISPA figures covered in a Wednesday report by the IRIB News showed that total domestic demand for steel increased by 18% in Iran in the 11 months to February 19 to nearly 85 million metric tons (mt).
The figures showed that Iran’s output of long steel products reached over 11.6 million mt between March 2022 and February this year of which nearly 9.4 million mt were supplied to the domestic market.
Demand for steel ingot in Iran rose to over 21 million mt in the 11 months to late February, accounting for 76% of the total production of steel in the country and showing a 13% increase compared to the same previous period, said the ISPA.
It figures showed that Iranian steelmakers had churned out nearly 20 million mt of finished steel products between March 2022 and February this year of which over 18 million mt were supplied to the domestic market.
The data showed that Iran had consumed nearly all its steel sheet production in the 11 months to late February with some 8.35 million mt of supply to domestic customers and just less than half a million mt of exports.
Sponge iron demand in Iran rose by 6% between March 2022 and February this year to reach more than 28.1 million mt, said the ISPA, adding that Iran had exported only 0.77 million mt of sponge iron over the period.