Crude Steel Output by Middle East Region Declined in First Half of 2020

SEATTLE (Scrap Monster): The Middle East crude steel production recorded notable decline in the month of June this year. The June 2020 production, at 3.264 million tonnes (Mt), was down by 8.5% from the same month a year before. The cumulative regional output totalled 19.692 Mt in the first half of the current year, marginally down by 0.3% when matched with the output of 19.754 Mt during the corresponding six-month period a year before.

All countries in the region except Iran recorded year-on-year decline in steel production. The Iranian production recorded year-on-year surge by over 5.3%. The country’s crude steel production totalled 2.425 Mt in June this year. Iran continued to remain as the leading steel producer in the entire region, accounting for more than 74% of the total regional monthly steel output.

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The second largest steel producer was Saudi Arabia, whose monthly output totalled 541,000 tonnes in June 2020. The output recorded almost 28% year-on-year decline. Saudi Arabian steel output had totalled 745,000 tonnes in June last year. In third place was the UAE with production totalling 219,000 tonnes, which is significantly down by approximately 24% when matched with the previous year. Qatar’s crude steel production collapsed 66% from 231,000 tonnes to 80,000 tonnes over the previous year.

The cumulative output by regional countries in the initial six-month period is as follows: Iran (13.886 Mt), Saudi Arabia (3.689 Mt), UAE (1.354 Mt) and Qatar (763,000 tonnes).