MSC sold 484,000 tons of steel products worth over 12.82 trillion rials ($305.24 million) during the period, indicating a 10.7% decline in sales volume and 12.65% growth in value compared with last year’s similar period, according to the latest data released by the company on Codal.ir.
The company is Iran’s largest steelmaker in terms of capacity and produced 672,000 tons of steel products during the period to post a 20.64% YOY growth.
Hot-rolled coil was MSC’s main steel production that reached 415,000 tons, 304,000 tons of which were sold at 7.66 trillion rials ($182.4 million). HRC production was up 20.63%, sales volume declined 1.93% and sales value jumped 22.9% year-on-year, according to Financial Tribune.
Cold-rolled coil came next with production reaching 126,000 tons, down 6.6% YOY. About 123,000 tons of the product were sold at 2.91 trillion rials ($83.79 million), growing 5.12% and 20.8% respectively YOY.
Mobarakeh’s most pronounced ups and downs were experienced in the production and sale of “other” steel materials. This category, which includes niche flat products, marked a 105.6% upsurge in output to 109,000 tons, while its sales volume and value were down 61.6% and 47% YOY to 33,000 tons and 711.9 billion rials ($16.9 million) respectively.
Last fiscal year (March 21, 2017-18), MSC was Iran’s top performer in terms of sales and sold 158 trillion rials ($3.16 billion) worth of products and produced 6.85 million tons to register a 56.3% and 13% growth respectively.
According to the Iranian Mines and Mining Industries Development and Renovation Organization, MSC was Iran’s second largest steel exporter in the last fiscal year, as it shipped 1.29 million tons of hot- and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel to overseas destinations, marking a 16% YOY drop.
MSC had a stellar performance in last year’s 12th month (Feb. 20-March 20) as its shipments jumped 192% YOY to 240,463 tons. The near 400% and 373% YOY growth in HRC and slab respectively were the growth’s primary drivers.
The giant steelmaker had also seen a 907% surge in exports in last year’s 11th month (Jan. 21-Feb. 19).
As for the first month of the current fiscal year, despite a promising growth in flat steel shipments, MSC was the third biggest Iranian steel exporter as it shipped 38,782 tons of hot- and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel during the month, indicating an overall YOY drop of 23%.
Together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region, supplying 20% of the region’s steel demand and accounting for 1% of Iran’s GDP.
MSC, with the ticker symbol “FOLD”, is listed on Tehran Stock Exchange with a market cap of about $5 billion.