Global steel production fell by 1.5% y/y in September

Global steel production in September 2023 decreased by 1.5% compared to the same month of 2022 – to 149.3 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

Compared to the previous month, global steel production decreased by 2.2%. Total steel production in the CIS countries + Ukraine in September 2023 increased by 10.7% y/y and decreased by 2.7% m/m – to 7.3 million tons.

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

• China – 82.1 million tons (-5.6% compared to September 2022);
• India – 11.6 million tons (+18.2%);
• Japan – 7 million tons (-1.7%);
• USA – 6.7 million tons (+2.6%);
• Russian Federation – 6.2 million tons (+9.8%);
• South Korea – 5.5 million tons (+18.2%);
• Germany – 2.9 million tons (+2.1%);
• Turkiye – 2.9 million tons (+8.4%);
• Brazil – 2.6 million tons (-5.6%).
• Iran – 2.4 million tons (-12.7%);

In January-September 2023, world steel production increased by 0.1% compared to the same period in 2022 –  up to 1.41 billion tons. During this period, the CIS countries + Ukraine increased their total steel production by 2% y/y – up to 66.3 million tons.

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 in 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.