Global DRI production increased in February

According to Worldsteel data, DRI production in February amounted to 8.6 million tons, with a monthly decrease of 11.2% and an annual increase of 7.6%. By far the largest producer of the 13-country group was India, with DRI production increasing by 17.9% annually to 4.2 million tons.

World DRI production has experienced rapid growth in recent years as efforts to decarbonize the steel industry accelerate. Annual DRI production in 2023 will reach 136.4 million tonnes, an increase of 65.3% compared to 2014 levels. The International Energy Association's Sustainable Development Scenario predicts 2050 DRI production will be 411 metric tons.

Part of the demand for DRI is driven by the target to reduce CO2 emissions in the steelmaking industry by 80-95% by 2050. More and more companies around the world are taking action to reduce their carbon footprint and carrying out direct reduction projects.