The Middle East’s crude steel production increased by 7.7pct YoY to 24 mln tons in the first five months of 2024, according to data from the World Steel Association. In May 2024, the region saw a 4.6pct YoY growth, totaling 5.2 mln tons.
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 a nearly 20pct YoY growth, reaching 15.5 mln tons in the January-May 2024 period. In May 2024 alone, Turkish steel output increased by 11.6pct YoY to 3.2 mln tons.
Iran, now the ninth largest steel-producing country, up from tenth, saw its production rise by 9.1pct YoY to 14 mln tons in January-May 2024. In May, the country’s steel output increased by 2.1pct YoY to 3.3 mln tons.
Africa’s steel production grew by 5.4pct YoY to 9.2 mln tons in the first five months of 2024, and posted a 0.9pct YoY growth in May, totaling 1.8 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 decreased slightly by 0.1pct in the first five months of 2024, reaching 793.2 mln tons. However, global steel production increased by 1.5pct YoY to 165.1 mln tons in May.
China, the largest steel-producing country, reported a 1.4pct YoY drop in output, totaling 438.6 mln tons in the first five months of 2024. In May, the country registered a 2.7pct YoY growth, totaling 92.9 mln tons.
Indian crude steel output increased by 7.7pct YoY to 61.9 mln tons in January-May 2024 and posted a 3.5pct YoY growth in May, reaching 12.2 mln tons.
Japan’s steel production declined by 2.3pct YoY to 35.7 mln tons in the January-May period and decreased by 6.3pct YoY to 7.2 mln tons in May.
