In 2024, Qatar Steel’s sales volume amounted to approximately 2.7 million tons of various products, an increase of 38.1% year-on-year, according to the corporate report.

DRI/HBI came in first place with a volume of approximately 1.4 million tons and a percentage of 53% of the sales volume and an increase of 167% compared to sales in 2023.

While rebar sales accounted for 44% during the mentioned period, with a decrease of 8% to reach 1.2 million tons, followed by billet sales with a volume of only 81 thousand tons.

The geographic analysis of revenues shows a significant boost in sales to the Middle East region, which accounted for 47% of the sector’s revenues, compared to 28% in 2023.

The local and Asian markets witnessed a slight decline, contributing 30% and 16% (compared to 34% and 29% respectively in 2023).

Due to the strong demand for products, the company decided to restart its DR-1 plant in the fourth quarter of 2024, expand production capacities and take advantage of the potential demand for low-carbon steel, as Qatar was one of the countries that increased its crude steel production in 2024 to approach 1.2 million tons, an increase of 2.6%, according to World Steel data.

Qatar Steel sales in 2024 thousand tons