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Home » FAQs » VSteel production in the Middle East is rising rapidly
VSteel production in the Middle East is rising rapidly
2017-03-03 14:33:16

 According to the world iron and Steel Association estimates that in January 2017, with the Middle East, the four largest iron and steel producing countries in the production of steel showed a year-on-year increase of two digits, regional steel production has rebounded.

Data show that the world iron and Steel Association monitoring four Middle East countries in January crude steel production increased by 13.5% to 2 million 570 thousand tons. Among them, Iran grew 11.3% to $1 million 520 thousand tons, Saudi Arabia grew by 16% to $483 thousand, Qatar grew by 24.1% to 247 thousand tons, an increase of the United Arab Emirates rose to 318 thousand tons.
Worldwide, due to the sharp increase in China's steel production, the World Steel Association in January to monitor the global total of 67 iron and steel enterprises increased by an annual output of 7% to 1.365 tons. Global capacity utilization also rose to 68.5%, higher than the same period last year was 65.1%.
As the market predicts a strong recovery in China's economic growth, steel production will rise. According to the British "Metal Bulletin" published data show that the European steel prices last year rose sharply to 82%, while the benchmark price of iron ore and coking coal also increased. The world's largest steelmaker forecast in its annual report, 2017 global steel consumption will grow by 1.5%, higher than the previous year's 1%.

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