Global pig iron production in January-October increased by 1.8% y/y

Global pig iron production in January-October 2023 increased by 1.8% compared to the same period in 2022 – up to 1.190 billion tons. In October, global pig iron production amounted to 115.4 million tons, up 1% y/y and down 0.7% m/m. This was reported by Ukrmetalurgprom with reference to the WorldSteel Association.

Global production of pig iron by the blast furnace method in January-October this year amounted to 1.091 million tons, and by the direct reduction method – 98.73 million tons.

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

• China – 744.75 million tons (+2.3% y/y);
• Bharat (India) – 111.82 million tons (+11% y/y);
• Japan – 52.94 million tons (-1.9% y/y).

In January-October 2023, Ukraine produced 4.91 million tons of pig iron, down 15.5% compared to the same period in 2022. The country is thus ranked 16th in the world’s top pig iron producers. In September, 512 thousand tons of pig iron were smelted (+5.3% m/m).

In 2022, global pig iron production decreased by 3% compared to 2021 – to 1.39 billion tons. The company produced 1.28 billion tons of pig iron by the blast furnace method and 110.52 million tons – by the direct reduction method.

The top three countries for pig iron production in 2022: China – 863.83 million tons (-0.8% y/y), India – 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 global pig iron producers with 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. The top three producing countries: 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).