Steel Sector Buoyant as Imports Take a Plunge

EghtesadOnline: Iran’s steel imports were down across the entire spectrum of products in the first month of the current Iranian year (March 21-April 20).

News ID: ۷۷۶۳۵۳

20 May 2017

This is while production, exports and consumption were all on the rise during the period, according to latest statistics released by Iranian Steel Producers Association.

All the imports pertained to finished products as semis’ imports stopped completely. Overall, imports stood at 29,000 tons, down 88% year-on-year.

With 10,000 tons, cold-rolled coil had the largest share of imports, down 66%. It was followed by hot-rolled coil with 8,000 tons, coated sheet with 4,000 tons, rebar with 3,000 tons, beams with 2,000 tons and other products with 2,000 tons, according to Financial Tribune.

Exports grew 10.87% to 541,000 tons, with those of semi-finished products reaching 439,000 tons, up 28%. Billet and bloom shipments made up 261,000 tons of the figure, followed by slabs with 178,000 tons, up 27% and 29% respectively.

Finished product exports witnessed a 41% decline to 102,000 tons. Rebar had the largest share with 61,000 tons, followed by beams with 12,000 tons, HRC with 10,000 tons, CRC with 1,000 tons, coated sheets with 1,000 tons and other products with 17,000 tons. The volume of all shipments declined with the exception of rebar and coated sheet.

The total steel output during the period stood at 3.3 million tons, registering a 16.19% rise. Semi-privatized steelmakers accounted for 2.32 million tons of the figure and private mills for 978,000 tons.

Semis’ production was up 15% to 1.73 million tons, including 917,000 tons of slab and 817,000 tons of billet and bloom, up 17% and 13% respectively.

Finished product output stood at 1.56 million tons, growing 17%. HRC had the lion’s share with 636,000 tons. These were followed by rebar with 489,000 tons, CRC with 138,000 tons, coated sheets with 129,000 tons, beams with 51,000 tons and other products with 70,000 tons. All products, except rebars, posted double-digit growth.

Overall steel consumption during the period stood at 2.78 million tons, up 6.8%. Semis’ usage rose 9% to 1.29 million tons and product consumption grew 5% to 1.49 million tons.

Iran exported 3.74 million tons of semis and 1.79 million tons of finished steel products in the last fiscal year (March 2016-17), registering a 108% and 16% growth respectively, according to Iranian Steel Producers Association.