Iran's steel production saw significant growth in the period from March to July 2023, with an 8.2% increase in steel semi-finished products and a 5.3% rise in finished rolled products, according to the Iranian Steel Producers Association (ISPA). During this time, the demand for finished steel products in Iran increased by 5.2% year-on-year, reaching 7.0 million tonnes.
Notably, rebar and wire rod production increased by 2.2%, and beams saw a substantial 21.9% growth. The demand for flat products also surged, with a 6.8% increase to 3.42 million tons. Hot rolled coils (Hrc) rose by 1.7%, cold rolled coils (Crc) by 11.9%, and coated steel experienced a remarkable 16.1% consumption growth. Additionally, Iran's production of reduced iron (DRI) increased by 2.21% during this period, reaching 12.37 million tons. This positions Iran as the world's second-largest producer of DRI, trailing only behind India.