In October, Middle East crude steel production increased rapidly
According to a monthly report from the World Steel Association, in October, crude steel output in the four Central Asian countries which included in the WMA statistics, increased by 18% year on year, reaching to 2.97 million tons. The first 10 months, the Middle East crude steel output reached 27.17 million tons, a growth of 13.3%. Globally, crude output growth in the Middle East is second only to Africa.
It is noteworthy that Iran’s steel production in October reached as high as 1.98 million tons, an increase of 24.2% over the same period; the first 10 months of steel cumulative production of 17.91 million tons, an increase of 20.9%. The increase in Iran’s steel production was mainly driven by increase in exports.
Qatar crude steel output in October increased by 27.8% to 239,000 tons. Qatar’s crude steel output in the first 10 months increased 4.9% to 2.24 million tons. It is learned that Qatar Steel has completed at least two major export transactions in recent months to ease the pressure brought by the interruption of trade with its neighboring countries.
The largest steel company in Saudi Arabia, production of steel increased by 7.3% in October, an estimated 470,000 tons, but the first 10 months of total steel production decreased by 5.1%. Crude steel production in the United Arab Emirates dropped 5.1% in October to 284,000 tonnes.