South Asia – Increasingly large-scale scrap importer Pakistan is the world’s fastest-growing steel producer, according to latest statistics from the World Steel Association. Having upped its crude steel output from 2.9 million tonnes in 2015 to 3.6 million tonnes in the ensuing year, production skyrocketed a further 39.3% last year to 5 million tonnes.
Pakistan imported 4.039 million tonnes of steel scrap in 2016 for a year-on-year increase of 24% over the 3.357 million tonnes of 2015.
When updated statistics become available, these are expected to reveal substantial additional import growth in 2017, especially as export data for the USA have already indicated that its own ferrous scrap shipments to Pakistan surged 59% year on year in January-November 2017 to 641 491 tonnes.
Pakistan ranked 28th in the league table of crude steel producers in 2017.
Taking 13th, 19th and 23rd places respectively on the same list, other countries to record massive growth in crude steel output last year were Iran (+21.4% to 21.7 million tonnes), Vietnam (+31.9% to 10.3 million tonnes) and Egypt (+35% to 6.8 million tonnes).
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