Crude Steel Output by Middle East Countries Dipped Until August

SEATTLE (Scrap Monster):  The crude steel production by Middle East countries recorded significant decline in the month of August this year. Also, the output reported marginal decline during the year-to-date period.

The production data published by the World Steel Association (worldsteel) indicates that the regional production totalled 3.033 million tonnes (Mt) in August this year. The output was down by 9.5% from the year ago month. The region had produced 3.354 Mt of crude steel in August last year.

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All countries in the region except Iran posted year-on-year dip in output. Iran’s crude steel production totalled 2.400 Mt, higher by 14.6% from the corresponding month a year before. Qatar recorded the largest year-on-year decline of 63.6% during the month. The country’s output dropped from 229,000 tonnes to 83,000 tonnes. The Saudi Arabian output totalled 355,000 tonnes, down by almost 52% year-on-year. The production by the UAE tumbled by approximately 32% from 286,000 tonnes in August 2019 to 195,000 tonnes in the same month this year.

The regional production, at 25.977 Mt in Jan-Aug ’20, registered decline by 1.4%, when matched with the output of 26.341 Mt in the corresponding eight-month period in 2019. The topmost producers in the region were Iran (18.625 Mt), Saudi Arabia (4.650 Mt) and the UAE (1.778 Mt).