News Global Market steel production 1041 23 December 2024
Steel production in the 71st country for the month amounted to 146.8 million tons
Global steel production in November 2024 fell by 2.9% compared to the previous month to 146.8 million tons. The figure increased by 0.8% compared to November 2023. This is evidenced by the global ranking of 71 steel-producing countries by the World Steel Association.
Total steel production in the CIS+Ukraine fell by 7.8% compared to November 2023 and by 3% m/m – to 6.5 million tons, including Ukraine, which fell by 1.2% y/y and 10.4% m/m – to 540.8 thousand tons.
The top ten steel producing countries in November, according to World Steel, were:
- China – 78.4 million tons (+2.5% y/y);
- India – 12.4 million tons (+4.5%);
- Japan – 6.9 million tons (-3.1%);
- USA – 6.4 million tons (-2.8%);
- Russian Federation – 5.5 million tons (-9.2%);
- South Korea – 5.2 million tons (-3.6%);
- Iran – 3.1 million tons (+0.1%);
- Turkey – 3 million tons (+0.7%);
- Germany – 2.9 million tons (+8.6%);
- Brazil – 2.8 million tons (+1.9%).
In January-November of this year, global steel production decreased by 1.4% compared to the same period in 2023 to 1.69 billion tons. In the CIS+Ukraine region, the figure fell by 4.1% y/y – to 77.9 million tons. In particular, Ukraine increased steel production by 23.1% y/y over 11 months – to 7.03 million tons.
As GMK Center reported earlier, in 2023, global steel production decreased by 0.1% compared to 2022 to 1.85 billion tons. Total steel production in the CIS+Ukraine increased by 4.5% over the year compared to 2022 – to 88.1 million tons.
Ukraine produced 6.2 million tons of steel in 2023, down 0.6% y/y. The country was thus ranked 24th in the global steel production ranking, up from 25th in 2022.
