Source: Scrap Monster
The Middle East crude steel production recorded notable surge in the month of February this year. The Feb ’20 production, at 3.6 million tonnes (Mt), was up by 22.9% from the same month a year before. The cumulative regional output totalled 7.441 Mt in the first two months of the current year, higher by 26.2% when matched with Jan-Feb ’19 output of 5.895 Mt.
The surge in production was led by Iran, whose output recorded year-on-year surge by over 34%. The country’s crude steel production totalled 2.710 Mt and accounted for more than 75% of the total regional output. Iran continued to remain as the leading steel producer in the entire region.
The second largest steel producer was Saudi Arabia, whose monthly output totalled 423,000 tonnes in February 2020. The output recorded 5.6% year-on-year decline. Saudi Arabian steel output had totalled 448,000 tonnes in February last year. In third place was the UAE with production totalling 298,000 tonnes, which is more or less stable when matched with February last year. Qatar;’s crude steel production increased marginally by 1.9% from 175,000 tonnes to 179,000 tonnes over the previous year.
The cumulative output by regional countries in Jan-Feb ’20 is as follows: Iran (5.605 Mt), Saudi Arabia (835,000 tonnes), UAE (592,000 tonnes) and Qatar (409,000 tonnes).