Global pig iron production fell by 6.9% y/y in April

In January-April, the indicator decreased by 2.4% y/y

Global pig iron production in April 2024 fell by 6.9% compared to the same month in 2023 – to 114.62 million tons. Compared to March, the figure decreased by 3.1%. This was reported by Ukrmetalurgprom with reference to the WorldSteel Association.

Global pig iron production by the blast furnace method amounted to 105.27 million tons for the month (-3% m/m; -5.8% y/y), and by the direct reduction method – 9.35 million tons (-3.7% m/m; -10.6% y/y).

In January-April 2024, global pig iron production decreased by 2.4% compared to the same period in 2023 – to 460.57 million tons. In particular, 423.13 million tons of pig iron were produced by the blast furnace method, and 37.44 million tons – by the direct reduction method.

The largest pig iron producing countries in January-April were:

• China – 284.99 million tons (-4.3% y/y);
• India – 47.24 million tons (+6.9% y/y);
• Japan – 20.42 million tons (-2.1% y/y);
• Russian Federation – 20.23 million tons (-1.9% y/y);
• South Korea – 14.43 million tons (-0.8% y/y).

Ukraine produced 597 thousand tons of pig iron in April, up 10.9% month-on-month and 9.7% y/y. For 4 months, the figure amounted to 2.19 million tons (+25.1% y/y). Thus, the country ranks 15th in the ranking of global pig iron producers, ahead of France by 144 thousand tons.

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).