Crude steel production in the Middle East fell by 1.5pct YoY to 38.4 mln tons during the first nine months of 2024, according to the World Steel Association. In September 2024, the region experienced a sharp 23pct YoY decline, producing just 3.5 mln tons as electricity shortages severely impacted Iranian steel output.
The Middle Eastern countries tracked by the World Steel Association include Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, the UAE, and Yemen.
Turkey, the world’s eighth-largest steel producer, saw nearly 14pct YoY growth, with production reaching 27.9 mln tons between January and September 2024. In September alone, Turkish steel output rose 6.5pct YoY to 3.1 mln tons.
Iran, the tenth-largest steel producer globally, saw its production decline by 3.1pct YoY to 21.3 mln tons in the first nine months of 2024. In September, Iranian steel output plunged 41.2pct YoY to 1.5 mln tons due to widespread electricity shortages during the summer.
In Africa, steel production rose 2.3pct YoY to 16.6 mln tons in the January-September period. September production also grew by 2.6pct YoY to 1.9 mln tons. Countries classified under Africa’s steel production include Algeria, Egypt, Libya, Morocco, Tunisia, and South Africa.
Globally, crude steel production fell by 1.9pct YoY, totaling 1.394 bln tons in the first nine months of 2024. In September, global production dropped 4.7pct YoY to 143.6 mln tons.
China, the world’s largest steel producer, saw its output decline by 3.6pct YoY to 768.5 mln tons in the January-September period. In September, Chinese production dropped 6.1pct YoY to 77.1 mln tons.
India’s crude steel output grew by 5.8pct YoY to 110.3 mln tons over the same period, though it edged down by 0.2pct YoY in September to 11.7 mln tons.
Japan’s steel production fell 3.2pct YoY to 63.3 mln tons between January and September 2024. In September, output dropped nearly 6pct YoY to 6.6 mln tons.
