Global pig iron production increased by 1.1% y/y in 2023

Global pig iron production in 2023 increased by 1.1% compared to 2022 – to 1.41 billion tons. In December, global pig iron production amounted to 106.23 million tons, down 4.9% y/y and 4% m/m. This was reported by Ukrmetalurgprom with reference to the WorldSteel Association.

Global pig iron production by the blast furnace method in 2023 amounted to 1.29 million tons, and by the direct reduction method – 120.15 million tons.

The largest countries producing pig iron in 2023 are:

• China – 871.01 million tons (+0.7% y/y);
• Bharat (India) – 135.07 million tons (+10.6% y/y);
• Japan – 63.04 million tons (-1.7% y/y).

Ukraine in 2023 produced 6 million tons of pig iron, which is 6.1% less compared to 2022. Thus, the country ranks 16th in the ranking of world pig iron producers. In December, 556,000 tons of pig iron were produced (+2.8% 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 the direct reduction method.

In the top three producers of pig iron 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 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 2023 decreased by 0.1% compared to 2022 – to 1.85 billion tons. The top three producing countries: China – 1.019 billion tons (+0% y/y), India – 140.2 million tons (+11.8% y/y), Japan – 87 million t (-2.5% y/y). Ukraine took 24th place with a result of 6.2 million tons (-0.6% y/y).