Domestic Economy

8-Month Surge in Apparent Steel Use Significant

8-Month Surge in Apparent Steel Use Significant
8-Month Surge in Apparent Steel Use Significant

Iran's apparent steel use in the first eight months of the current Iranian year (March 21-Nov. 21) has 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 13.15 million tons for finished products, registering a 17% year-on-year increase, the Iranian Steel Producers Association reported.
Long steel products accounted for the largest portion of finished steel consumption with 6.84 million tons, up 21%.
Rebar grabbed the biggest share in this section with 5.6 million tons, up 25%, followed by beams with 740,000 tons (up 2%) and L-beam, T-beam and other types with 492,000 tons (up 11%).
Flat steel products accounted for 13.15 million tons of finished steel apparent use, up 17%. 
Among flat steel products, hot-rolled coil had the biggest share of apparent use with 5.89 million tons (up 13% YOY), followed by cold-rolled coil with 1.73 million tons (down 4%) and coated coil with 1 million tons (up 11%).
ASU stood at 16.57 million tons for semi-finished products, registering a 21% rise.
The apparent use for billet and bloom stood at 9.34 million tons, up 21% compared with the same period of last year. For slab, it increased by 21% to 7.22 million tons.
Direct-reduced iron consumption stood at 23.61 million tons during the period under review, up 23%.


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