US-based Midrex Technologies, a subsidiary of Japanese steelmaker Kobe Steel, has released its global direct reduced iron (DRI) production and trade statistics, showing that worldwide DRI production rose to 140.8 million mt in 2024, up 3.8 percent from 135.7 million mt in 2023.
Growth was largely driven by India, where rotary kiln-based production surged 13.9 percent or 5.6 million mt, while gas-based shaft furnace output fell slightly by 0.4 percent or 300,000 mt. Since 2019, global DRI output has grown 30.3 percent or 32.7 million mt annually.
Plants using MIDREX® technology accounted for 76.2 million mt of output in 2024, representing 54.1 percent of global DRI production and 80.1 percent of shaft furnace-based production.
Trade records in 2024
Global shipments of DRI, including domestic and international flows, reached a new record of 28.6 million mt in 2024, rising by 16.3 percent. 39 countries exported significant quantities of DRI/HBI, while 54 countries imported DRI/HBI.
Top exporters:
- Russia: 3.1 million mt (mostly HBI to Asia & Europe)
- Iran: 1.6 million mt
- Trinidad & Tobago: 1.5 million mt
- India: 1.4 million mt (mostly to Nepal & Bangladesh)
- US: 1.4 million mt
Top importers:
- US: 1.5 million mt vs 1.3 million mt in 2023)
- Turkey: 1.2 million mt vs 700,000 in 2023)
- India: 900,000 mt vs 1.6 million mt in 2023)
- Mexico: 800,000 mt vs 400,000 mt in 2023)
- Italy: 700,000 mt vs 1 million in 2023)
China also increased imports to 500,000 mt from 300,000 mt in 2023, primarily from Iran and Russia.
Outlook for 2025
According to Midrex, global DRI trade flows in 2025 are expected to remain stable, following similar routes as in 2024. However, tariffs, sanctions, and trade regulations will continue to shape trade dynamics.