A significant increase in Africa's crude steel production is projected for the period 2023-2024. According to World Steel Association reports, crude steel production is expected to grow between 3% and 5% annually. However, some fluctuations were observed in steel production by 2024. Compared to June 2023, crude steel production increased in 2024. Production increased from 1.3 million tons (Mt) in June 2023 to 1.6 Mt in June 2024, representing an increase of 0.3 Mt.
On the other hand, data for January-June 2024 showed a decline in crude steel production. Production decreased from 2.0 Mt in January to 1.6 Mt in June, a decrease of 0.4 Mt. These changes were considered as important indicators reflecting the dynamics of the sector and market demands.
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