Crude steel production in the Middle East rose by 1.4pct YoY to 49.2 mln tons during the first eleven months of 2024, according to the World Steel Association. In November alone, the region recorded a 2.7pct YoY increase, producing 5.1 mln tons. Countries monitored in the region include Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, the UAE, and Yemen.
Turkey, the world’s eighth-largest steel producer, reported a robust 11.2pct YoY growth in production, reaching 31.2 mln tons from January to November 2024. November output rose slightly by 0.7pct YoY to 3 mln tons.
Iran, the world’s tenth-largest steel producer, achieved a modest 0.5pct YoY growth, producing 28 mln tons during the same period. In November, Iranian output edged up by 0.1pct YoY to 3.1 mln tons.
In Africa, crude steel production increased by 1.3pct YoY to 20.4 mln tons during January-November 2024. However, November production declined by 5pct YoY to 1.8 mln tons. African countries tracked include Algeria, Egypt, Libya, Morocco, Tunisia, and South Africa.
Globally, crude steel production declined by 1.4pct YoY to 1.694 bln tons in the first eleven months of 2024. However, November production showed a slight recovery, increasing by 0.8pct YoY to 146.8 mln tons.
China, the world’s largest steel producer, saw its output drop by 2.7pct YoY to 929.2 mln tons from January to November 2024. Nonetheless, Chinese production increased in November, growing by 2.5pct YoY to 78.4 mln tons.
India posted strong growth, with crude steel production increasing by nearly 6pct YoY to 135.9 mln tons during the period. In November, India’s output rose by 4.5pct YoY to 12.4 mln tons. Japan experienced a decline, with steel production falling by 3.6pct YoY to 77.1 mln tons between January and November 2024. November output decreased by 3.1pct YoY to 6.9 mln tons.
