Middle East Crude Steel Output Surged, Bucking Global Trend

SEATTLE (Scrap Monster): The monthly crude steel production by the Middle East region surged higher significantly by almost 3% during the month of October this year. This is in accordance with the data published by the World Steel Association (worldsteel). The rise in regional production comes in the midst of 2.8% decline in global steel output during the month.

The regional output totalled 3.044 million tonnes (Mt), higher by 2.9% when matched with the output of 2.958 Mt in October 2018. The production increases in Iran and Qatar were partially offset by reduced production by other countries in the region including Saudi Arabia and the UAE.

Qatar recorded the biggest jump in monthly crude steel production. The country’s output witnessed a surge by over 11%, compared with the previous year, to total 228,000 tonnes in October 2019. The production had totalled only 205,000 tonnes during the same month a year before. Iran too recorded 7.5% surge in output from 2.047 Mt in October ’18 to 2.200 Mt in October this year. Meantime, Saudi Arabia saw substantial decline in output from 407,000 tonnes to 331,000 tonnes over the year. The steel output by the UAE too dropped significantly by 4.8% from 299,000 tonnes to 285,000 tonnes.

ALSO READ: African Crude Steel Output Plunged 17%

The Jan-Oct ’19 steel production by the region totalled30.741 Mt. This compares with 29.456 Mt produced during January to October in 2018. All counties recorded increased output over the previous year except Saudi Arabia. Iran continued to be the leading producer in the region with an output of 21.518 Mt. The steel output by other countries is as follows: Saudi Arabia (4.284 Mt), the UAE (2.741 Mt) and Qatar (2.198 Mt).