Crude steel production in the Middle East increased by 5.8pct YoY to 28.5 mln tons in the first half of 2024, according to data from the World Steel Association. However, the region experienced a 2.7pct YoY decline in June 2024, totaling 4.6 mln tons, due to a reduction in Iranian steel output.
The countries included in the Middle East region by the World Steel Association are Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Yemen.
Turkey, ranked eighth among the world’s major steel producers, recorded nearly 17pct YoY growth, reaching 18.6 mln tons in H1 2024. In June 2024 alone, Turkish steel output increased by 4.3pct YoY to 3.1 mln tons.
Iran, the ninth-largest steel-producing country, saw its production rise by 5.9pct YoY to 16.6 mln tons in H1 2024. However, in June, the country’s steel output decreased by 8.5pct YoY to 2.6 mln tons.
Africa’s steel production grew by 3.2pct YoY to 10.9 mln tons in the first half of 2024 but posted a 9.6pct YoY decline in June, totaling 1.6 mln tons. The countries included in Africa’s steel production by the World Steel Association are Algeria, Egypt, Libya, Morocco, Tunisia, and South Africa.
Global crude steel production remained stable in H1 2024, reaching 954.6 mln tons. In June 2024, global steel production increased slightly by 0.5pct YoY to 161.4 mln tons.
China, the largest steel-producing country, reported a 1.1pct YoY drop in output, totaling 530.6 mln tons in the first half of 2024. In June, the country registered a slight growth of 0.2pct YoY, totaling 91.6 mln tons.
Indian crude steel output increased by 7.4pct YoY to 74.2 mln tons in H1 2024 and posted 6pct YoY growth in June, reaching 12.3 mln tons.
Japan’s steel production declined by 2.6pct YoY to 42.7 mln tons in the January-June period and decreased by 4.2pct YoY to 7 mln tons in June.
