Iran consumed 5.19 million mt of finished steel products in the first three months of the current Iranian year (to June 21), up 20% year on year and 323,000 mt more than it produced, the Iranian Steel Producers Association said this week.
The country's steelmakers and re-rollers produced 4.87 million mt of finished steel products in the three-month period, up 13% year on year, ISPA said in a report.
Iran's consumption in the three-month period included 2.11 million mt of hot-rolled coil, up 24% year on year, 786,000 mt of cold-rolled coil, up 60% and 1.44 mt of rebar, down 4%.
Its finished steel products exports more than halved to 300,000 mt from 715,000 mt in the same period last year earlier amid the surge in domestic demand, ISPA said.
Iran's crude steel production rose 13% year on year to 5.31 million mt in the three month period, of which 3.62 million mt was consumed domestically and 1.69 million mt exported.
Output in the period included 2.7 million mt of billet and 2.6 million mt of slab.
The rise in Iran's apparent consumption was attributed to a pickup in auto manufacturing and other industries, one market source said.
The country's rebar re-rollers were now worried about securing the supplies they required and the increasing price of billet, he said.
In response to domestic rolling mills' concerns, an Iranian parliament committee meet Tuesday to discuss regulating the steel market, according to Chilanonline, a website belonging to ISPA, which quoted Rasoul Khalifesoltani, secretary of the group.
"As the main decision of the parliament committee, up to 70% of needed billet requirement for rolling mills will be supplied by domestic companies and it will be organized and managed by the Ministry of Industry, Mines & Trade," Khalifesoltani was quoted as saying.
