Iran’s mild steel output down 6.7% y/y in 11-month period: ISPA
Iran’s production of mild steel fell by 6.7% year on year in the 11 months to February 18, causing a loss of nearly $1 billion in export revenues, according to figures by the Iranian Steel Producers Association (ISPA).
ISPA figures cited in local media reports on Saturday showed that Iranian steel mills had produced 26.953 million metric tons (mt) of semi-finished steel in April-February, down from 28.894 million mt reported in the previous same period, Press TV reported.
Semi-finished steel or mild steel refers to three types of steel ingots, known as billet, bloom, and slab, that are used to make long steel products usually needed in the construction of buildings, roads, bridges, and other infrastructure.