Global steel production decreased by 1.1% y/y in the first half of 2023

Global steel production in January-June 2023 decreased by 1.1% compared to the same period in 2022 – to 943.9 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

Total steel production in the CIS countries + Ukraine decreased by 3.4% y/y in the first half of 2023 – to 43.3 million tons.

In June, global steel production decreased by 0.1% compared to June 2022 – to 158.8 million tons. Compared to May 2023, the indicator fell by 1.7%. The CIS+Ukraine produced 6.5 million tons of steel in June, which is 5.2% more y/y and 17.7% less m/m.

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

• China – 91.1 million tons (+0.4% compared to June 2022);
• India – 11.2 million tons (+12.9%);
• Japan – 7.3 million tons (-1.7%);
• USA – 6.8 million tons (+0.5%);
• Russia – 5.8 million tons (+3.8%);
• South Korea – 5.5 million tons (-0.9%);
• Iran – 3.2 million tons (+17.4%);
• Germany – 2.9 million tons (-8.4%);
• Turkiye – 2.9 million tons (-1.5%);
• Brazil – 2.6 million tons (-12.5%).

As GMK Center reported earlier, in 2022 world steel production decreased by 4.3% compared to 2021 – to 1.831 billion tons. The CIS countries + Ukraine for 2022 reduced the total production of steel 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.