Iran steel output hits 30m tons

Tehran (ISNA) - Iranian steelmakers produced 30 million tons of steel during the first nine months of the current fiscal year (March 21-Dec. 21) to register a 12.5% growth compared with last year’s corresponding period.

According to the latest statistics provided by Iran Steel Producers Association, semi-finished steel made up 16.07 million tons of the output, up 16% year-on-year.

"Billet and bloom" output stood at 8.53 million tons while that of slab reached 7.54 million tons, recording a 17% and 15% YOY growth respectively.

As for finished steel, the output increased 9% YOY to reach 14.63 million tons.

Finished steel production has followed a rising trend this year for all products, except for beam and rebar, Financial Tribune reported.

Iran’s direct-reduced iron production is also on the rise. It stood at 16.53 million tons during the nine-month period, indicating a 22% rise YOY. Semi-privatized steelmakers accounted for 11.75 million tons of the output and private mills for 4.78 million tons, with their YOY growth at 14% and 46% respectively.

Major Iranian steelmakers have exported 5.11 million tons of semis and finished steel in the nine months, up 26% YOY, according to statistics released by the Iranian mines and mining industries development and renovation organization.

Notably, Esfahan Steel Company has shipped its first rebar cargo to the UK recently. The shipment of 5,000 tons at $505/ton FOB southern port is due to arrive in late January 2018.

Additional contracts are nearly finalized for the same destination, while another cargo is under negotiation for Scotland, a company source told S&P Global Platts. It is the first rebar cargo to be shipped to a European country from Iran.