Iran's 11-Month Crude Steel Export Doubles

EghtesadOnline: Iranian steelmakers exported about 4.87 million tons of crude steel and steel products during the 11 months to February 18, the latest data by Iran Steel Producers Association showed.

News ID: ۷۴۰۷۲۷

04 April 2017

About 3.22 million tons of crude steel were exported during the period, registering a 108% rise year-on-year. The export of steel products, however, dropped 16% to reach 1.64 million tons.

Semi-finished casting products, including billets, blooms and slabs, had the lion’s share of exports in the steel sector. Over 1.89 million tons of blooms and billets were shipped abroad during the period, marking a 29% growth Y-O-Y. Slab exports surged by a staggering 1,416% to 1.33 million tons.

Hot-rolled coils were the next in line. Over 1.02 million tons of HRC were exported, indicating a 27% drop. Rebar exports followed with 234,000 tons, beams with 178,000 tons, cold-rolled coils with 147,000 tons, coated coils with 26,000 tons and other steel products with 37,000 tons, Financial Tribune reported.

With the exception of HRC and rebar, all other products recorded a solid growth in shipments–CRC exports nearly doubled.

Iranian steelmakers produced 16.83 million tons of crude steel and 16.58 million tons of steel products during the 11-month period, registering a 10% and 3% growth respectively.

Moreover, 2.61 million tons of steel products were imported during the same period, which shows a 30% fall Y-O-Y. Imports declined for all products compared to last year, with HRC and CRC making up the bulk of purchases with 1.49 million tons and 556,000 tons respectively. Crude steel imports stood at 187,000 tons, up 82% Y-O-Y.

Domestic steel consumption growth was again in the negative territory. Local buyers consumed 13.79 million tons of crude steel and 17.55 million tons of steel products in the 11-month period, indicating a 1% and 2% decline respectively.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan (2005-25), which envisions an annual production of 55 million tons of crude steel and 20-25 million tons of exports annually by the deadline.

According to Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh, Iranian mills have so far materialized 31 million tons of the annual steel manufacture capacity target.