News Global Market steel production 2472 22 May 2024
Steel production in the 71st country for the month amounted to 155.1 million tons
Global steel production in April 2024 fell by 5% compared to the same month in 2023 – to 155.1 million tons. The figure decreased by 3.4% compared to March. This is evidenced by the global ranking of 71 steel-producing countries by the World Steel Association.
The total steel production in the CIS countries + Ukraine for the month fell by 3.5% compared to April 2023, and 5.1% m/m – to 7.4 million tons, in particular in Ukraine – increased by 24.5% y/y and 17% m/m, to 715 thousand tons.
The top ten steel-producing countries in April, according to World Steel, were:
- China – 85.9 million tons (-7.2% y/y);
- India – 12.1 million tons (+3.6%);
- Japan – 7.1 million tons (-2.5%);
- USA – 6.7 million tons (-2.8%);
- Russian Federation – 6.2 million tons (-5.7%);
- South Korea – 5.1 million tons (-10.4%);
- Germany – 3.4 million tons (+6.4%);
- Turkey – 2.8 million tons (+4.5%);
- Brazil – 2.7 million tons (-2.1%).
- Iran – 2.7 million tons (-12.3%).
In January-April 2024, global steel production decreased by 0.9% compared to the same period in 2023 – to 625.4 million tons. In the CIS+Ukraine region, the figure fell by 0.6% y/y – to 29 million tons. In particular, Ukraine increased steel production by 32.8% y/y over 4 months – to 2.4 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% year-on-year – to 88.1 million tons in 2022.
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.