Global steel production in August increased by 2.2% y/y

Global steel production in August 2023 increased by 2.2% compared to the same month of 2022 – up to 152.6 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

In comparison with the previous month, the global production of steel decreased by 3.7%. Total steel production in the CIS countries + Ukraine in August 2023 increased by 10.7% y/y and by 1.3% m/m – up to 7.5 million tons.

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

• China – 86.4 million tons (+3.2% compared to August 2022);
• Bharat – 11.9 million tons (+17.4%);
• Japan – 7.1 million tons (-2.9%);
• USA – 7 million tons (+1.1%);
• Russia – 6.4 million tons (+8.9%);
• South Korea – 5.6 million tons (-5.9%);
• Germany – 2.8 million tons (-1%);
• Turkiye – 2.8 million tons (-2.9%);
• Brazil – 2.7 million tons (-5.9%).
• Iran – 1.6 million tons (-24.1%);

In January-August 2023, world steel production increased by 0.2% compared to the same period in 2022 – up to 1.26 billion tons. During this period, the CIS countries + Ukraine increased their total steel production by 0.8% y/y – up to 58.8 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.