Middle East Countries' Steel Output Saw Substantial Decline

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

The production data published by the World Steel Association (worldsteel) indicates that the regional production totalled 3.142 million tonnes (Mt) in May this year. The output was down by 7.3% from the year ago month. The region had produced 3.390 Mt of crude steel in May 2019.

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All countries in the region except Iran posted year-on-year dip in output. Iran’s crude steel production totalled 2.350 Mt, higher by 8.9% from the corresponding month a year before. Qatar recorded the largest year-on-year decline of 73.3% during the month. The country’s output dropped from 235,000 tonnes to 63,000 tonnes. The Saudi Arabian output totalled 565,000 tonnes, down by almost 20% year-on-year. The production by the UAE tumbled by approximately 44% from 291,000 tonnes to 164,000 tonnes.

The regional production, at 16.532 Mt in Jan-May ’20, edged higher by 2.1%, when matched with the output of 16.188 Mt in the corresponding five-month period in 2019. The topmost producers in the region were Iran (11.444 Mt), Saudi Arabia (3.269 Mt) and the UAE (1.135 Mt).