Global steel output in August 2022 decreased by 3% y/y

Global steel production in August 2022 decreased by 3% compared to August 2021 – to 150.6 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

Total steel production in the CIS countries and Ukraine in August 2022 fell by 22.4% y/y – to 6.9 million tons.

The top ten producing countries, according to World Steel:

• China – 83.9 million tons (+0.5% compared to August 2021);
• India – 10.2 million tons (+1.2%);
• Japan – 7.3 million tons (-7.4%);
• USA – 7 million tons (-7.1%);
• Russia – 5.9 million tons (-5.5%);
• South Korea – 6.1 million tons (-0.4%);
• Germany – 2.9 million tons (-2.3%);
• Turkey – 2.8 million tons (-21%);
• Brazil – 2.8 million tons (-11.3%);
• Iran – 2.1 million tons (+64.7%).

In January-August 2022, world production decreased by 5.1% compared to the same period in 2021 – to 1.25 billion tons. The CIS countries for 8 months of 2022 reduced production by 18.2% – to 59.1 million tons.

As GMK Center reported earlier, in 2021 global steel output increased by 3.7% compared to 2020 – up to 1.95 billion tons. Ukraine in 2021 increased production by 3.6% – up to 21.4 million tons. The country took 14th place in the global ranking of 64 steel-producing countries.