In the first half of 2024, the Arab nations have experienced a notable upswing in crude steel production, with an increase of 5.3% compared to the same period in the previous year. The World Steel Organization reported that the region's total production reached 20.4 million tons, underscoring a robust start to the year.
However, June 2024 presented a nuanced scenario. Steel production for the month was recorded at 3.2 million tons, which represents a minor dip of 0.4% from June 2023. This figure marks the lowest monthly output since May 2023. Despite this downturn, Saudi Arabia emerged as a leader in June, with an output of 805 thousand tons, reflecting a growth of 3.1%. Conversely, Egypt and Algeria faced production declines, with Egypt's output decreasing by 9.9% and Algeria's by 4.6%.
Examining the production from January to June 2024 reveals that Egypt has maintained its position as the top producer, generating 5.2 million tons, a significant 9.3% increase. Saudi Arabia followed closely with 5 million tons, marking a 5.1% rise. Algeria contributed 2.1 million tons, achieving a 3.2% growth.
Regionally, the Gulf countries have been the frontrunners, accounting for half of the total steel production in the Arab world. Saudi Arabia's substantial output plays a key role in this statistic. In North Africa, which contributed 42% of the total regional production, Egypt led with 61% of the North African total. The Eastern Mediterranean region, though smaller in scale, saw Iraq leading with 88% of its production, contributing 1.7 million tons to the overall tally.
This data illustrates the diverse performance across the Arab steel industry, reflecting a period of both growth and challenges. The varying trends across different countries and regions highlight the dynamic nature of steel production in the Arab world.
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