The Middle East’s crude steel production rose by 3.7pct YoY (YoY) to 32.2 mln tons in the first seven months of 2024, according to the World Steel Association. However, the region saw a 10.1pct YoY decline in July 2024, totaling 3.7 mln tons, primarily due to reduced 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 15pct YoY growth, reaching 21.7 mln tons from January to July 2024. In July 2024, Turkish steel output increased by 4pct YoY to 3.1 mln tons.
Iran, which dropped to tenth position from ninth among the largest steel-producing countries, saw its production rise by 2.9pct YoY to 18.4 mln tons in the January-July 2024 period. However, in July, the country’s steel output decreased by 18.7pct YoY to 1.8 mln tons.
Africa’s steel production grew by 3.3pct YoY to 12.8 mln tons in January-July 2024 and posted a 4pct growth in July, totaling 2 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 declined by 0.7pct YoY, reaching 1.1 bln tons in the January-July 2024 period. In July 2024, global steel production decreased by 4.7pct YoY to 152.8 mln tons.
China, the world’s largest steel producer, reported a 2.2pct YoY drop in output, totaling 613.7 mln tons in the first seven months of 2024. In July, China’s steel output also fell by 9pct YoY to 82.9 mln tons.
India’s crude steel output increased by 7.2pct YoY to 86.4 mln tons in the January-July 2024 period and grew by 6.8pct YoY in July, reaching 12.3 mln tons.
Japan’s steel production declined by 2.8pct YoY to 49.8 mln tons from January to July 2024 and fell by 3.8pct YoY to 7.1 mln tons in July.
