Global Direct-Reduced Iron Production Hits 140.8 Million Metric Tons in 2024

India Leads as Global Direct-Reduced Iron Production Surges in 2024

Global direct-reduced iron (DRI) production climbed to a record 140.8 million metric tons (MMT) in 2024, marking a 3.8% increase from 2023, according to Midrex Technologies. The Charlotte, North Carolina-based firm confirmed that DRI output has grown more than 30% since 2019, reflecting increased demand for low-carbon steelmaking inputs.

Midrex Technologies, a global leader in DRI plant design, accounted for 76.2 MMT—over half of global output. The company compiled the data with World Steel Dynamics, headquartered in New Jersey. The 2024 figures highlight the continued rise of DRI as a key enabler of decarbonization in the steel industry.

India remained the top global DRI producer, delivering 54.7 MMT, followed by Iran with 34.7 MMT. Russia, Saudi Arabia, and Egypt followed, contributing 8.0, 6.6, and 6.4 MMT respectively. Notably, DRI growth outpaced global steelmaking, which rose just 1% last year, based on figures from the World Steel Association.

Midrex Expands Capacity While Global DRI Trade Holds Steady

Four new Midrex DRI plants launched in 2024—three in Iran and one in Algeria. These projects highlight a strategic pivot toward high-efficiency, hydrogen-ready DRI infrastructure. The company is also engaged in major European partnerships, including with Blastr Green Steel in Finland and Primetals Technologies in Germany, underscoring the EU’s shift toward low-emission ironmaking.

Meanwhile, DRI trade remained strong, with the United States leading as the top importer at 1.5 MMT, followed by Turkey (1.2 MMT), India (900,000 tons), Mexico (800,000 tons), and Italy (700,000 tons). Midrex expects trade flows in 2025 to remain stable, although tariffs, sanctions, and regulations may influence volumes and routes.

Midrex’s 2024 report offers critical insights for market analysts, investors, and steelmakers pursuing sustainable growth amid global decarbonization efforts. As the global energy transition gains pace, DRI continues to cement its role as a cornerstone of green steel.

SuperMetalPrice Commentary:

The rise in global direct-reduced iron production confirms DRI’s growing role in sustainable steelmaking. India’s dominance, Midrex’s expanding footprint, and Europe’s transition to hydrogen-compatible facilities all signal a structural shift. As global policymakers tighten emissions targets, DRI adoption will likely accelerate. Stakeholders should track plant expansion, trade regulations, and hydrogen policy developments as competitive and regulatory landscapes evolve.