Iran reports slight y/y increase in steel output in April

Figures by the Iranian Steel Producers Association (ISPA) published on Tuesday showed that total production of steel in the country had risen by 1% year on year in April.

The figures showed that semi-finished steel output in Iran had increased by 6% to 3.063 million metric tons (mt) in the calendar month to late April.

Production of sponge iron, also known as direct reduced iron, reached 3.407 million mt in Iran in the month to late April, up 5% year on year, the data showed.

The ISPA said Iran’s long steel output had increased by 4% to 0.997 million mt year on year in April while steel sheet production in the country dropped by 2% to 0.851 million mt over the same period.

Iran churned out 1.848 million mt of finished steel products in the calendar month to late April, up by 1% year on year, showed the figures.

Iran is the 10th largest producer of steel in the world. The country has seen a surge in its production and exports of steel in recent years, mainly because of increased government support for the sector, which has been a response to US sanctions on the country’s oil exports.

Industry sources say the ongoing war in Ukraine and its impacts on the global metals market has caused a surge in demand for Iranian steel, especially in Europe where Russian and Ukrainian supplies have declined in recent months.

MNA/PressTV