9,321.64 TRY BIST 100 BIST 100
44.06 EUR EUR EUR
38.20 USD USD USD
5.25 CNY CNY CNY
0.12 CNY CNY/EUR CNY/EUR
45.84 TRY Interest Interest
66.96 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
99.35 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,286.58 TRY Gold (gr) Gold (gr)

Iranian steel production battles energy woes and demand dips

Steel production in Iran has encountered a series of fluctuations this summer. The first four months of the Persian calendar year showed promising signs as electricity supply to steelmakers improved compared to the previous year, resulting in a 9% growth in production when compared to the same period in 2022 .

Iranian steel production battles energy woes and demand dips

Steel production in Iran has encountered a series of fluctuations this summer. The first four months of the Persian calendar year showed promising signs as electricity supply to steelmakers improved compared to the previous year, resulting in a 9% growth in production when compared to the same period in 2022. However, August brought about a more challenging situation, casting a shadow over the industry's performance.

Statistical data reveals a concerning trend. In August of the previous year, the stock market boasted nearly one million tons of steel products, yet this August, only 850,000 tons found buyers. This dip in demand suggests a downward trajectory in Iranian steel production, with energy supply issues being identified as a significant contributing factor.

Experts in the steel industry point out that government and policy makers prioritize energy conservation within industries. While this approach is environmentally responsible, it places considerable pressure on producers. This has, in turn, affected the liquidity of steelmakers. As September 2023 came to a close, the Iranian steel market faced the dual challenges of low demand and a widespread price hike across most steel sections. The lack of liquidity remained a issue in the market, adding to its woes.

In a somewhat positive development, billet producers began to ramp up their production capacity in the third week of September, predictions of a potential decrease in steel prices. 

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Rio Tinto's first quarter results hit by a storm

Thursday, April 17, 2025

Tata Steel, Clecim and ABB Limited join forces on new pickling line

Tuesday, April 15, 2025

April prices fluctuated in Egypt's rebar market

Tuesday, April 22, 2025

Türkiye's consumer confidence index decreased again in April

Tuesday, April 22, 2025

EU supports Spain with 400 million euros in hydrogen production support

Tuesday, April 22, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now