In the first quarter of 2022, Qatar Steel resumed its second DRI facility (1.5 million tonnes) against the first facility (0.8 million tonnes), which operated until 2021.
As a result, the production volume of all-steel value chain segments (DRI/HBI, billet, and long steel) improved by 20% year-over-year and 33% compared to the fourth quarter of 2021.
The mentioned factors led to a significant increase in production during the first quarter of 2022 as the crude output of Qatar steel increased by 6% year-on-year, reaching 271,000 t.
Qatar Steel’s revenue over the reported period increased by 6% on an annualised basis owing to an 18% surge in selling prices, which allowed Qatar Steel to offset higher raw materials costs and a more than 70% decline in billet sales volumes.
