Global steel output in January 2023 decreased by 3.3% y/y

Global steel production in January 2022 decreased by 3.3% compared to the same month of 2023 – to 145.3 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

Compared to the previous month, global steel output increased by 3.3%. Total steel production in the CIS countries and Ukraine in January 2023 fell by 24.9% y/y, but increased by 4.8% m/m – up to 6.5 million tons.

The top ten steel-producing countries in January 2023, according to World Steel:

• China – 79.5 million tons (+2.3% compared to January 2023);
• India – 10.9 million tons (-0.2%);
• Japan – 7.2 million tons (-6.9%);
• USA – 6.5 million tons (-6.8%);
• Russia – 5.8 million tons (-8.9%);
• South Korea – 5.5 million tons (-9.8%);
• Germany – 2.9 million tons (-10.2%);
• Brazil – 2.8 million tons (-4.9%);
• Iran – 2.7 million tons (+27.7%);
• Turkiye – 2.6 million tons (-17.6%).

As GMK Center reported earlier, in 2022 world steel production decreased by 4.3% compared to 2021 – to 1.831 billion tons. CIS countries and Ukraine for 2022 reduced total steel production by 20.2% y/y – to 85.2 million tons.

Ukraine in 2022 reduced production of steel by 70.7% compared to 2021 – to 6.3 million tons. Thus, due to the war, the country fell to the 25th place in the ranking of world steel producers according to WorldSteel.