Rebar Accounts for Lion’s Share of Finished Steel Production, Exports

EghtesadOnline: With 7.25 million tons, rebars accounted for the lion’s share of finished steel production in Iran during the first eight months of the current Iranian year (March 21-Nov. 21), according to the Iranian Steel Producers Association.

News ID: ۷۵۲۱۷۷

08 January 2023

With 7.25 million tons, rebars accounted for the lion’s share of finished steel production in Iran during the first eight months of the current Iranian year (March 21-Nov. 21), according to the Iranian Steel Producers Association.

The volume of production shows a 20% rise compared with last year’s corresponding period.

The total output of finished steel increased by 14% year-on-year during the period to 14.74 million tons.

Long steel products grabbed the highest share of finished steel production with 8.65 million tons, registering a 17% increase compared with the similar period of last year.

Other finished steel products during the period included beams with an output of 808,000 tons (up 2%) and L-beam, T-beam and other types of beams with an aggregate production of 581,000 tons (up 7%).

Flat steel production reached 6.08 million tons (up 10%) while hot-rolled coil output had the biggest share of flat steel production with 5.87 million tons, marking an 8% rise. It was followed by cold-rolled coil with 1.43 million tons (down 1%) and coated coil with 1.62 million tons (down 3%).

Rebar also accounted for the largest portion of finished steel products exported from Iran during the period, with 1.67 million tons.

The volume of exports experienced a 7% rise compared with the same period of last year.

Total exports of finished steel products decreased by 2% to 2.14 million tons during the period.

Other finished products exported from Iran during the period included beam with 91,000 tons, down 5%; 112,000 tons of L-beam, T-beam and other types of beam, down 10%; hot-rolled coil with 193,000 tons, registering a 39% decline; cold-rolled coil with 14,000 tons, up 8%; and coated coil with 57,000 tons, down 26%.

Apparent steel use totaled 13.15 million tons for finished products during the period, registering a 17% year-on-year increase.

Long steel products accounted for the largest portion of finished steel consumption with 6.84 million tons, up 21%.

Again, rebar grabbed the biggest share in this section with 5.6 million tons, up 25%, followed by beams with 740,000 tons (up 2%) and L-beam, T-beam and other types with 492,000 tons (up 11%).

Flat steel products accounted for 13.15 million tons of finished steel apparent use, up 17%.

Among flat steel products, hot-rolled coil had the biggest share of apparent use with 5.89 million tons (up 13% YOY), followed by cold-rolled coil with 1.73 million tons (down 4%) and coated coil with 1 million tons (up 11%).

Apparent steel use is defined as production plus imports minus exports, sometimes also adjusted for changes in inventories.

A total of 558,000 tons of finished steel products were imported into Iran during the first eight months of the current fiscal year (March 21-Nov. 21), registering a 5% year-on-year rise, latest data released by the Iranian Steel Producers Association show.

The imports mostly included HRC with 214,000 tons, up 140%; CRC with 129,000 tons, down 35% compared with the year before; coated coil with 123,000, down 19%; beam with 9,000 tons, down 18% YOY; L-beam, T-beam and other types with 23,000 tons, down 15% YOY and rebar with 28,000 tons, up 33%.