Consumption of steel plate products in Europe, one of its main markets, is forecasting a 1 to 5 percent drop for next year, while for North America consumption growth is projected to be 1 to 5 percent, driven by forecasts of China's market stability and improving global markets.

Assuming 1.5 percent OF GDP in Germany, 0.6 percent in the European Union, 0.5 percent in the United States and 4.4 percent in China, the group has planned for 2023, according to Iranian Steel.