Iran exported 4.73 million tons of finished and semi-finished steel products during the first seven months of the current fiscal year (March 21-Oct. 22) to register a 12.65% year-on-year growth, according to the Iranian Steel Producers Association.
Semi-finished steel made up 3.11 million tons or more than 65.77% of the total export volume, down 11% YOY.
Billet and bloom had the lion’s share of semis exports with an aggregate of 1.8 million tons to mark a 1% YOY growth. Slab followed with 1.31 million tons, down 24% YOY.
Exports of finished steel products surged 135% YOY to reach 1.62 million tons. Rebar was the main exported finished product with 792,000 tons, registering a 148.28% jump YOY.
Following rebar were hot-rolled coil with 476,000 tons, up 142.86% YOY; beams with 145,000 tons, up 46% YOY; coated coil with 102,000 tons, up 155% YOY; “other steel products” with 91,000 tons, up 203% YOY; and cold-rolled coil with 16,000 tons, up 129% YOY.
Exports of direct-reduced iron declined 21% YOY to 374,000 tons.
Iran surpassed its 8-million-ton export target last fiscal year (March 2017-18) by shipping 8.49 million tons of steel, up 53.4% YOY.
Iranian steelmakers have targeted 9.5 million tons for the current fiscal year (March 2018-19) and 14 million tons by March 2021.
Imports on the Decline
Imports of almost all steel products were down during the period compared with last year's corresponding period.
The ISPA report shows that steel imports stood at 660,000 tons during the seven months to Oct. 22, down 46.43% YOY.
Semis imports made up 27,000 tons of the total figure, up 4%. Billet and bloom imports went up by 73% to 73,000 tons, as slab witnessed a staggering fall of 91% to reach 1,000 tons.
Imports of finished steel dropped 48% YOY to 633,000 tons. The imports mostly included CRC with 207,000 tons, down 45%; HRC with 174,000 tons, down 65.27%; coated coil with 172,000 tons, down 22%; "other steel products" with 32,000 tons, down 27%; rebar with 28,000 tons, down 39.13%; and beams with 20,000 tons, down 5%.
3.7% Growth in Production
Iranian steelmakers produced a total of 26.79 million tons of products during the seven-month period to register a 13.7% growth compared with last year’s corresponding period.
Semi-finished steel made up 14.45 million tons of the total output, up 18% YOY.
Billet and bloom made up 7.96 million tons of all semi-finished production volume while slab output hit 6.48 million tons to register a 22% and 13% rise year-on-year respectively.
As for finished steel, output increased 9% YOY to reach 12.33 million tons.
Hot-rolled coil had the lion's share of finished steel production with 4.86 million tons, up 10% YOY.
It was followed by rebar with 4.31 million tons, up 21%; cold-rolled coil with 1.42 million tons, up 3%; coated coil with 788,000 tons, down 12%; beams with 492,000 tons, down 13%; and "other steel products" with 459,000 tons, down 5%.
Meanwhile, Iran’s direct-reduced iron production is registering a healthy growth. It stood at 15.19 million tons during the seven months, indicating a 21% rise YOY.
Semis Apparent Usage Increasing
According to ISPA, Iran's apparent steel usage—defined as production plus imports minus exports, sometimes also adjusted for changes in inventories—stood at 11.36 million tons for semis, growing 30%; and hit 11.35 million for finished products to drop 4% YOY.
Hot-rolled coil had the lion’s share of finished steel consumption, as it reached 4.56 million tons, down 4% YOY. It was followed by rebar with 3.55 million tons, up 8% YOY; cold-rolled coil with 1.61 million tons, down 8% YOY; coated coil with 858,000 tons, down 20% YOY; "other steel products" with 400,000 tons, down 20%; and beams with 367,000 tons, down 25% YOY.
As for semis, usage of billet and bloom grew 30% to 6.18 million tons, while that of slab rose 29% to 5.17 million tons.
DRI usage was up 22% for the period to 14.82 million tons.
