Global steel output fell by 4.7% y/y in September

Global steel production in September 2024 fell by 4.7% compared to the same month in 2023 to 143.6 million tons. The figure fell by 0.8% compared to August. This is evidenced by the global ranking of 71 steel-producing countries by the World Steel Association.

Total steel production in the CIS+Ukraine fell by 7.6% over the month compared to September 2023 and by 2.9% m/m to 6.8 million tons, including Ukraine, which increased by 9.3% y/y and decreased by 11.7% m/m to 610 thousand tons.

The top ten steel-producing countries in September, according to World Steel, were:

• China – 77.1 million tons (-6.1% y/y);
• India – 11.7 million tons (-0.2%);
• USA – 6.7 million tons (+1.2%);
• Japan – 6.6 million tons (-5.8%);
• Russian Federation – 5.6 million tons (-10.3%);
• South Korea – 5.5 million tons (+1.3%);
• Turkey – 3.1 million tons (+6.5%);
• Germany – 3 million tons (+4.3%);
• Brazil – 2.8 million tons (+9.9%);
• Iran – 1.5 million tons (-41.2%).

In January-September 2024, global steel production decreased by 1.5% compared to the same period in 2023 – 1.39 billion tons. In the CIS+Ukraine region, the indicator fell by 2.5% y/y – up to 64.9 million tons. In particular, in 9 months, Ukraine increased steel production by 28.2% y/y – up to 5.88 million tons.

As GMK Center reported earlier, 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.