Iran steel consumption growth is less than output growth
Benefited from the recovery of Iran's economy, the apparent consumption of steel showed a trend of growth, but the consumption growth was less than that of steel production.
At present, the first month of (March 21st to April 20th), the country's steel consumption of 1 million 490 thousand tons, an increase of 5%, but still less than the same period 73 thousand tons of steel output. The downstream industry demand for 634 thousand tons, down 4% year on year, cold roll 201 thousand tons, an increase of 33%, cold roll demand growth is mainly in the automotive sector pull. At the same time Iran steel imports fell 89% to 29 thousand tons, the coil imports 8000 tons, dropped 96%, cold roll 10 thousand tons, down 66%, steel 3000 tons, down 73%, no imported billet.
Iran's crude steel output was 1 million 730 thousand tons in the first month of the year, up 15% over the previous year, including 817 thousand tonnes of billets and 917 thousand tons of slabs. Among them, the domestic consumption of 1 million 290 thousand tons, exports 439 thousand tons, exports increased by 28%.
The apparent increase in Iran's steel consumption reflects the country's emergence from the economic downturn, showing signs of recovery, but the future of the steel industry continues to depend on exports. At present, the per capita steel consumption in Iran is about 235 kg, and the government's objective is to increase the per capita steel consumption to 500 kg by 2025.
