Global steel production in April decreased by 5% y/y

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.