Global pig iron production in January-August increased by 2.2% y/y

In August, global pig iron production increased by 4.4% y/y, but decreased by 2.3% m/m

In January-August 2023, the global production of pig iron increased by 2.2% compared to the same period in 2022 – up to 958.24 million tons. In August, the world production of pig iron amounted to 119.82 million tons, which is 4.4% more y/y, but by 2.3% less m/m. This is reported by Ukrmetalurgprom with the reference to WorldSteel Association’s data.

World production of pig iron by the blast furnace method for January-August 2023 amounted to 880.77 million tons, and by DRI method – 77.47 million tons.

The largest pig iron-producing countries in January-August 2023 are:

• China – 603.59 million tons (+3.7% y/y);
• Bharat (India) – 88.76 million tons (+10.2% y/y);
• Japan – 42.45 million tons (-3% y/y).

Ukraine for January-August 2023 produced 3.91 million tons of pig iron, which is 24.1% less compared to the same period in 2022. Thus, the country occupies the 16th place in the ranking of world producers of pig iron. In August, 534,000 tons of pig iron were smelted (-0.7% m/m).

In 2022 world production of pig iron decreased by 3% compared to 2021 – to 1.39 billion tons. 1.28 billion tons of pig iron were produced by the blast furnace method, and 110.52 million tons – by DRI method.

In the top three producers of pig iron in 2022: China – 863.83 million tons (-0.8% y/y), Bharat – 121.9 million tons (+4.4% y/y) , Japan – 64.1 million tons (-8.8% y/y). In 2022, Ukraine took 15th place in the ranking of world pig iron producers with an indicator of 6.39 million tons (-69.8% y/y).

As GMK Center reported earlier, global steel production in 2022 decreased by 10.8% compared to 2021 – to 140.7 million tons. In the top three there were China – 1.013 billion tons (-2.1% y/y), India – 124, 7 million tons (+5.5% y/y), Japan – 89.2 million t (-7.4% y/y). Ukraine took 25th place with a result of 6.3 million tons (-70.7% y/y).