The Middle East demonstrated an overall stable performance in crude steel production in 2024, though country-specific variations were notable. According to the World Steel Association, the region’s total crude steel production reached 54.1 million tons, reflecting a 0.5% increase compared to 2023.
Iran, the region’s largest producer, recorded 31 million tons of crude steel, achieving a 0.8% annual growth. However, the country saw an 8.2% year-on-year decline in December. Saudi Arabia’s production fell by 3.4%, totaling 9.6 million tons for the year.
On the other hand, Oman demonstrated the most positive trend, increasing its production by 4.5% to reach 3 million tons. The UAE produced 3.7 million tons, experiencing a slight 1.4% drop.
Despite these variations, the Middle East maintained its stability in crude steel production, solidifying its position in the global market. Investments in the energy and construction sectors are expected to boost the region’s production capacity in the coming years.
Comments
No comment yet.