Global steel production in January decreased by 4.4% y/y

Global steel production in January 2025 decreased by 4.4% compared to the same month in 2024 – to 151.4 million tons. The figure increased by 4.8% compared to the previous month. This is evidenced by the global ranking of steel-producing countries (69) by the World Steel Association.

Total steel production in the CIS+Ukraine increased by 1.4% y/y and 2.9% m/m – to 7 million tons over the month, including 12.3% y/y and 11.7% m/m in Ukraine, to 611 thousand tons.

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

• China – 81.9 million tons (-5.6% y/y);
• India – 13.6 million tons (+6.8%);
• Japan – 6.8 million tons (-6.6%);
• USA – 6.6 million tons (+1.2%);
• Russia – 6 million tons (-0.6%);
• South Korea – 5.2 million tons (-8.8%);
• Turkey – 3.2 million tons (-1.4%);
• Germany – 2.8 million tons (-8.8%);
• Brazil – 2.6 million tons (-4.5%);
• Iran – 2.2 million tons (-24.1%).

As GMK Center reported earlier, global steel production in 2024 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).