In 2023, Qatar Steel's sales volume reached nearly 2 million tons of various products, an increase of 15.2% year-on-year, according to official information.
Reinforcing steel came in first place with a volume of about 1.3 million tons, accounting for 65% of the sales volume. While DRI sales remained almost constant during the aforementioned period, decreasing by 1.5% to reach 542,000 tons, followed by billet sales with a size of 133,000 tons. “The company was able to strengthen its position in the market in light of its acquisition of the Qatari Rebar Production Company, and it was also able to sell some quantities outside the local market.” The share of Asian buyers in the company’s revenues in 2023 was 29%, compared to 17% in the previous year, and Africa’s share was 6% in business volume, compared to zero previously. However, trade in Qatar and the Middle East shrank to 34% and 36% last year compared to 40% and 36% in 2022, respectively. A fairly successful commercial performance has supported the production side. Crude steel production in Qatar increased by 6% year-on-year, to exceed 1.1 million tons in 2023. Qatar Steel sales in 2023 thousand tons
Product | 2023 | 2022 | Y-o-y |
Rebar | 1,290 | 1,119 | +15.3 |
Billet | 133 | 36 | +269.4 |
DRI/HBI | 542 | 550 | -1.5 |
Total | 1,965 | 1,705 | +15.2 |