Global pig iron production fell by 2.7% m/m in September

In January-September, the indicator decreased by 2.7% y/y

Global pig iron production in September 2024 fell by 2.7% compared to the previous month – to 109.54 million tons. Compared to September 2023, the figure decreased by 6.1%. This was reported by Ukrmetalurgprom with reference to the WorldSteel Association.

Global pig iron production by the blast furnace method amounted to 99.9 million tons for the month (-2.4% m/m; -5.7% y/y), and by the direct reduction method – 9.64 million tons (-6% m/m; -6.1% y/y).

In January-September 2024, global pig iron production decreased by 2.7% compared to the same period in 2023 to 1.05 billion tons. In particular, 954.48 million tons of pig iron were produced by the blast furnace method, and 92.3 million tons – by the direct reduction method.

The largest pig iron producing countries in January-September are:

• China – 644.43 million tons (-4.6% y/y);
• India – 106.45 million tons (+6% y/y);
• Japan – 45.77 million tons (-3.7% y/y);
• Russian Federation – 44.51 million tons (-4.8% y/y);
• South Korea – 33.23 million tons (-1.6% y/y).

In September, Ukraine produced 624.1 thousand tons of pig iron, down 3% month-on-month and up 28.3% y/y. For 9 months, the figure amounted to 5.36 million tons (+21.9% y/y). Thus, the country ranks 13th in the ranking of global pig iron producers.

In 2023, global pig iron production increased by 1.1% compared to 2022 – to 1.41 billion tons. In 2023, 1.29 billion tons were produced by the blast furnace method, and 120.15 million tons – by the direct reduction method.

The top three countries for pig iron production in 2022: China – 871.01 million tons (+0.7% y/y), India – 135.07 million tons (+10.6% y/y), Japan – 63.04 million tons (-1.7% y/y). In 2023, Ukraine ranked 16th in the global pig iron production ranking with 6 million tons (-6.1% y/y).

As GMK Center reported earlier, global steel production in 2023 decreased by 0.1% compared to 2022 to 1.85 billion tons. The top three producing countries are: China – 1.019 billion tons (+0% y/y), India – 140.2 million tons (+11.8% y/y), Japan – 87 million tons (-2.5% y/y). Ukraine ranked 24th with 6.2 million tons (-0.6% y/y).