Iran’s steel industry has reached heights, with the country producing over 32 million tons of steel in 2023. This remarkable achievement reflects a growth rate of 5.5%, signaling robust progress in the sector.
The steel billets segment witnessed growth rate of 9.2%. This surge in production underscores the importance of steel billets in Iran’s industrial landscape. While steel billets flourished, other steel products experienced a decline. Annual production of rebar, hot-rolled sheets, cold-rolled sheets, and slabs decreased during this period.
Despite the reduction in domestic hot-rolled coils production, imports of this product doubled compared to previous years. Cold-rolled coils also faced challenges, with a 2.8% reduction in production. However, their imports surged twofold.
The surplus supply of scrap steel remains a notable factor, contributing to the overall steel production landscape. Overall, Iran’s steel industry maintained stability, producing approximately 21.5 million tons of various steel products.
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