Semi-finished steel output declines amid widespread power shortage

Iran's production of semi-finished steel has declined in the first five months of Iranian fiscal year, primarily due to widespread electricity cuts this summer, according to industry sources.

The Iranian Steel Producers Association (ISPA) reported that semi-finished steel output fell by 5.4pct YoY in the five months leading up to August 21, amounting to a reduction of 0.7 mln tons.

The ISPA data also revealed that rebar production dropped by 9.2pct during this period, while the output of angles and beams decreased by 13.6pct. Steel ingot production saw a YoY decline of 7.9pct.