Global steel production in 2023 decreased by 0.1% y/y

Global steel production in 2023 decreased by 0.1% compared to 2022 to 1.850 billion tons. This is evidenced by the global ranking of 71 steel-producing countries by the World Steel Association.

Total steel production in the CIS countries + Ukraine increased by 4.5% over the year compared to 2022 – to 88.1 million tons. The top ten steel-producing countries, according to World Steel, are:

• China – 1,019 billion tons (+0.0% y/y);
• Bharat – 140.2 million tons (+11.8%);
• Japan – 87 million tons (-2.5%);
• USA – 80.7 million tons (+0.2%);
• Russian Federation – 75.8 million tons (+5.6%);
• South Korea – 66.7 million tons (+1.3%);
• Germany – 35.4 million tons (-3.9%);
• Turkiye – 33.7 million tons (-4%);
• Brazil – 31.9 million tons (-6.5%).
• Iran – 31.1 million tons (+1.8%).

In December, global steel production decreased by 5.3% compared to December 2022 and by 6.7% m/m – to 135.7 million tons. The CIS countries + Ukraine increased steel production by 11.8% y/y and decreased by 4% m/m – to 7.1 million tons.

Ukraine produced 6.2 million tons of steel in 2023, down 0.6% y/y. Thus, the country ranked 24th in the global steel production ranking, up from 25th in 2022.

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

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