EghtesadOnline: The Iranian steel industry, especially its raw material sector, is expanding substantially.

EghtesadOnline: Steel consumption in Iran during the first quarter of the current fiscal year (March 21-June 21) stood at 5.19 million tons, up 20% year-on-year and 323,000 tons more than domestic production, the Iranian Steel Producers Association’s latest report showed.

EghtesadOnline: Iran’s steel consumption has experienced a downtrend for the past six years, highlighting the country’s ailing market and subdued demand.

EghtesadOnline: In its latest report titled “Short Range Outlook for 2018-19”, the World Steel Association (Worldsteel) forecasts that Iranian steel demand will increase by 5.5% to 21.05 million tons by the end of 2018 and rise up to 5% in 2019 to 22.1 million tons.

EghtesadOnline: The downward trend in the global flat steel market has finally sparked interest in foreign material among Iranian customers and trading companies.

EghtesadOnline: In its latest report titled “Short Range Outlook for 2017-18”, the World Steel Association forecasts that Iranian steel demand will increase by 4.9% to 20.04 million tons in 2017 and will increase to 6% in 2018 to 21.25 million tons.