Global steel production fell by 2.2% m/m in June

Steel production in the 71st country for the month amounted to 161.4 million tons

Global steel production in June 2024 increased by 0.5% compared to the same month in 2023 to 161.4 million tons. The figure fell by 2.2% compared to May. This is evidenced by the global ranking of 71 steel-producing countries by the World Steel Association.

Total steel production in the CIS+Ukraine increased by 1.4% over the month compared to June 2023 and fell by 3.9% m/m – to 7.4 million tons, including 68.4% y/y growth in Ukraine and a 0.4% m/m decrease to 735 thousand tons.

The top ten steel-producing countries in June, according to World Steel, were:

• China – 91.6 million tons (+0.2% y/y);
• India – 12.3 million tons (+6%);
• Japan – 7 million tons (-4.2%);
• USA – 6.7 million tons (-1.5%);
• Russian Federation – 6 million tons (-4.1%);
• South Korea – 5.1 million tons (-7.2%);
• Germany – 3.2 million tons (+8.9%);
• Turkey – 3.1 million tons (+4.3%);
• Brazil – 2.9 million tons (+11.8%);
• Iran – 2.6 million tons (-8.5%).

In January-June this year, global steel production remained unchanged compared to the same period in 2023, at 954.6 million tons. In the CIS+Ukraine region, the figure increased by 0.1% y/y – to 44 million tons. In particular, Ukraine increased steel production by 36.9% y/y over 6 months to 3.87 million tons.

As GMK Center reported earlier, in 2023, global steel production decreased by 0.1% compared to 2022 to 1.85 billion tons. Total steel production in the CIS+Ukraine increased by 4.5% over the year compared to 2022 to 88.1 million tons.

Ukraine produced 6.2 million tons of steel in 2023, down 0.6% y/y. The country was thus ranked 24th in the global steel production ranking, up from 25th in 2022.