MENA region outperforms overall steel production

Steel production in the MENA region has already exceeded total production last year, according to the latest statistics released by the World Steel Association. In January-November 2017, the output of MENA metal products amounted to 70.77 million tons against 68.23 million tons in 2016. On an annual basis. an increase of nearly 13.7 percent.

In November 2017, crude steel output increased by 7.95% to 6.450 million tonnes against 5.975 million tonnes in the same period last year.

The impressive growth in steel production is attributable to high steel prices, as well as strong exports from Iran and an increase in the market share of regional steel producers in their respective markets, despite a slowdown in Saudi Arabia due to tight government measures.

The Turkish steel industry increased to 3.11 million tonnes, reflecting a 6.9 percent jump from 2.912 million tonnes in November 2016. Steel production in Iran increased by 24.33%, and in November 2017 to 1.95 million tons against 1.57 million tons in November 2016.

Steel production in Qatar was 190,000 tons in November 2017, up from 171,000 in the same period last year, an increase of 11.11 percent. Steel production in the UAE decreased by 5.28% to 287 thousand tons. Production volumes in Saudi Arabia in November 2017 fell sharply by 45.77% to 269 thousand tons. Steel output in Egypt increased significantly by 36.92% to 586,000 tonnes in November 2017. Libyan steel production was 51,000 tonnes, up 13.33% on an annual basis.