Iran and MENA’s largest steelmaker reports decline in output
The largest steelmaker in the Middle East and North Africa (MENA) region has posted a fall in production in the first half of the current calendar year compared to the previous same period.
Figures released by the Mobarakeh Steel Company (MSC), located near the central Iranian city of Isfahan, on a local stock market website showed that the firm had churned out 3.399 million metric tons (mt) of steel in the six months to September 22, according to a report by Tasnim news agency.
The output represented a fall of 6.5% from MSC’s production in April-September 2024 and a decline of nearly 24% compared to the same period in 2023.
The figures showed that domestic sales and exports of steel by the MSC had also declined in the six months to late September.
The company had sold 2.624 million mt of steel in the Iranian market in April-September, down from 3.296 million mt reported in the same period last year.
However, MSC’s exports reached a total of 0.756 million mt in the six months to late September, up from 0.339 million mt reported in the same period in 2023, the figures showed.
The figures are consistent with industry data published last week, which showed that exports of steel from Iran had rebounded in the first five months of the calendar year that began in late March.
Iran has maintained its position as a major global steel producer this year despite facing acute energy supply and price issues.
Steel production in the country declined in April and May when a sudden heat wave caused restrictions on electricity supplies delivered to major industries.
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