Crude steel production in the Middle East rose by 3pct YoY to 35.5 mln tons during the first eight months of 2024, according to the World Steel Association. However, in August 2024, the region saw a 3.2pct YoY decline, producing 3.4 mln tons, mainly due to a drop in Iran’s output.
The countries classified under the Middle East by the World Steel Association include Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, the UAE, and Yemen.
Turkey, the eighth-largest steel producer globally, recorded a significant 15pct YoY growth, reaching 24.8 mln tons from January to August 2024. In August, Turkish steel production increased by 13.8pct YoY to 3.1 mln tons.
Iran, ranked as the tenth-largest steel producer, saw its output rise by 1.9pct YoY to 19.8 mln tons in the first eight months of 2024. However, August output declined by nearly 10pct YoY to 1.4 mln tons, largely due to widespread electricity shortages over the summer.
In Africa, steel production grew by 1.9pct YoY to 14.7 mln tons between January and August 2024. However, output dropped by 7.2pct YoY in August, totaling 1.9 mln tons. The countries classified under Africa’s steel production by the World Steel Association are Algeria, Egypt, Libya, Morocco, Tunisia, and South Africa.
Globally, crude steel production fell by 1.5pct YoY, reaching 1.251 bln tons in the first eight months of 2024. In August, global production dropped by 6.5pct YoY to 144.8 mln tons.
China, the world’s largest steel producer, reported a 3.3pct YoY decline in output, totaling 691.4 mln tons in the January-August period. In August, China’s steel production fell by 10.4pct YoY to 77.9 mln tons.
India’s crude steel output increased by 6.5pct YoY to 98.5 mln tons over the same period and saw a 2.6pct YoY growth in August, producing 12.3 mln tons.
Japan’s steel production declined by 2.9pct YoY to 56.7 mln tons in the January-August period, with August output dropping nearly 4pct YoY to 6.9 mln tons.
