According to recent data from the World Steel Association, global direct reduced iron production exhibited varied trends in mid-2024. The latest figures reveal that production in the 13 countries representing approximately 91.4% of global DRI output reached 10.61 million metric tons in June 2024. This figure marks a decrease of 2.6% compared to May 2024, yet shows a 2.4% increase from June 2023.
Globally, the DRI production from January to July 2024 totaled 72.44 million metric tons. This represents a notable increase of 6.5% compared to the same period in 2023, reflecting a positive upward trend in production capacity and demand for DRI.
India emerged as the leading producer of DRI in July 2024, with an impressive output of 4.44 million metric tons. This dominant position underscores India's significant role in the global steel industry, driven by its robust industrial base and growing steel demand.
Following India, Iran, Russia, and Egypt reported substantial DRI production figures. Iran produced 3.13 million metric tons, maintaining its position as a major player in the sector. Russia and Egypt contributed 635,000 metric tons and 591,000 metric tons respectively, showcasing their substantial, though comparatively smaller, shares in global production.
The growth in production during the first seven months of 2024 reflects a broader trend of increasing global steel production and consumption. The 6.5% rise in DRI output aligns with the broader economic recovery and infrastructure development activities worldwide, contributing to higher demand for steel and its raw materials.
