Global steel exports grew by 6.5% y/y in 2023 – WorldSteel

The main export volume is hot-rolled sheets and coils – 75.6 million tons

Global steel exports in 2023 increased by 6.5% compared to 2022 – to 402.8 million tons. This is stated in the report of the WorldSteel Association.

The dynamics of global steel exports over the past 5 years has been multidirectional, in particular:

• 2019 – 425.2 million tons;
• 2020 – 378.8 million tons;
• 2021 – 436.3 million tons;
• 2022 – 378.4 million tons;
• 2023 – 402.8 million tons.

Last year, the main exports were hot-rolled sheets and coils – 75.6 million tons (+11.2% y/y), semi-finished products – 53.2 million tons (+19.2% y/y), galvanized steel – 41 million tons (+6.8% y/y), steel pipes and rebar – 36.5 million tons (+6.7% y/y), and cold-rolled sheets and coils – 30.3 million tons (-1.6% y/y).

The main exporters of steel in 2023 are China – 94.3 million tons, Japan – 32.2 million tons, South Korea – 27 million tons, the European Union – 26 million tons, and Germany – 22.5 million tons. At the same time, the EU is the largest importer of steel products – 39.2 million tons. The United States imported 26.4 million tons of steel, Germany – 18.7 million tons, Italy – 18.7 million tons, and Turkey – 18 million tons.

In 2023, global steel production decreased by 0.1% compared to 2022 – to 1.85 billion tons. Total steel production in the CIS+Ukraine increased by 4.5% year-on-year – to 88.1 million tons in 2022.

Ukraine produced 6.2 million tons of steel in 2023, down 0.6% y/y. The country was thus ranked 24th in the global steel production ranking, up from 25th in 2022.