Global steel production in February decreased by 3.4% y/y

Global steel production in February 2025 decreased by 3.4% compared to the same month in 2024 to 144.7 million tons. Compared to the previous month, the figure fell by 4.4%. This is evidenced by the global ranking of steel-producing countries (69) by the World Steel Association.

Total steel production in the CIS+Ukraine decreased by 1.9% y/y and 4.3% m/m to 6.7 million tons over the month, including 7.5% y/y and 6.4% m/m decrease in Ukraine, to 571.8 thousand tons.

The top ten steel-producing countries in February, according to World Steel, were:

• China – 78.9 million tons (-3.3% y/y);
• India – 12.7 million tons (+6.3%);
• Japan – 6.4 million tons (-8.5%);
• USA – 6 million tons (-7%);
• Russia – 5.8 million tons (-3.4%);
• South Korea – 5.2 million tons (+0.7%);
• Turkey – 2.9 million tons (-5.6%);
• Germany – 2.7 million tons (-13.5%);
• Brazil – 2.7 million tons (-1.6%);
• Iran – 1.7 million tons (-21.8%).

In January-February, global steel production decreased by 2.2% y/y – to 302 million tons. In the CIS+Ukraine region, the figure decreased by 0.7% y/y – to 13.6 million tons. Ukraine produced 1.18 million tons of steel in two months, up 9.9% y/y.

As GMK Center reported earlier, in 2024, global steel production decreased by 0.9% compared to 2023 to 1.839 billion tons. In December 2024, the figure amounted to 144.5 million tons, up 5.6% compared to December 2023 and down 1.6% month-on-month.

Last year, Ukraine produced 7.57 million tons of steel, up 21.6% compared to 2023. In December, the production volume amounted to 547 thousand tons (+5.1% y/y; +1.1% m/m).