Global steel output in November 2022 decreased by 2.6% y/y

Global steel production in November 2022 decreased by 2.6% compared to the same period in 2021 – to 139.1 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 November 2022 fell by 24.6% y/y – to 6.5 million tons.

The top ten producing countries, according to World Steel, include:

• China – 74.5 million tons (+7.3% compared to November 2021);
• India – 10.4 million tons (+5.7%);
• Japan – 7.2 million tons (-10.7%);
• USA – 6.4 million tons (-10.5%);
• Russia – 5.6 million tons (-9.6%);
• South Korea – 4.8 million tons (-18.1%);
• Germany – 2.8 million tons (-17.9%);
• Turkiye – 2.4 million tons (-30.7%);
• Brazil – 2.6 million tons (-16.3%);
• Iran – 2.9 million tons (+3.9%).

In January-November 2022, world steel production decreased by 3.7% compared to the same period in 2021 – to 1.691 billion tons. The CIS countries and Ukraine for 11 months of 2022 reduced the total steel production by 19.6% y/y – to 79 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% y/y – up to 21.4 million tons. The country took 14th place in the global ranking of 64 steel-producing countries.