Domestic Economy

Strong Growth in Apparent Steel Use 

Strong Growth in Apparent Steel Use 
Strong Growth in Apparent Steel Use 

Iran's apparent steel use in the first seven months of the current fiscal year (March 21-Oct. 22) increased significantly compared with last year's corresponding period.
Apparent steel use is defined as production plus imports minus exports, sometimes also adjusted for changes in inventories. 
ASU totaled 11.37 million tons for finished products, registering a 19% year-on-year increase, the Iranian Steel Producers Association reported.
Long steel products accounted for the largest portion of finished steel consumption with 5.82 million tons, up 20%.
Rebar grabbed the biggest share in this section with 4.75 million tons, up 24%, followed by beams with 634,000 tons (up 3%) and L-beam, T-beam and other types with 439,000 tons (up 12%).
Flat steel products accounted for 5.34 million tons of finished steel apparent use, up 13%. 
Among flat steel products, hot-rolled coil had the biggest share of apparent use with 5.17 million tons (up 16% YOY), followed by cold-rolled coil with 1.52 million tons (down 5%) and coated coil with 943,000 tons (up 16%).
ASU stood at 14.58 million tons for semi-finished products, registering a 25% rise.
The apparent use for billet and bloom stood at 8.27 million tons, up 25% compared with the same period of last year. For slab, it increased by 24% to 6.31 million tons.
Direct reduced iron consumption stood at 20.35 million tons during the period under review, up 22%.

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