Qatar Steel has signed a memorandum of understanding with the Qatar Customs Service to control the export of scrap steel and provide raw materials for domestic steel production.
The agreement was signed on October 22 and describes joint procedures for monitoring and limiting the supply of scrap metal due to concerns about the availability of scrap. in the region of the Gulf Cooperation Council (GCC), where the capacity for the production of electric arc furnaces (EDP) is expanding.
Qatar Steel operates one of the largest direct cast iron reduction (DRI) steel complexes in the region with an annual capacity of 2.35 million tons of dry and hot rolled products.-briquetted cast iron (GBJ), 2.57 million tons of billets and 1.8 million tons of fittings. Earlier this year, the company restarted its fourth EDP production plant, increasing productivity by 750,000 tons of billet per year.
Qatar Steel is one of the key DRI suppliers in the GCC region. Steel producers in India are increasingly favoring this metal, and steel imports from the Middle East have increased (3-fold) (3-fold) (4-fold) in recent months, as secondary steel producers refuse to use scrap metal due to supply restrictions in the domestic market and tax compliance issues.
