Global steel production in November increased by 3.3% y/y

Global steel production in November 2023 increased by 3.3% compared to the same month in 2022 – up to 145.5 million tons. This is evidenced by the global ranking of 64 steel-producing countries by the World Steel Association.

Global steel production fell by 3% compared to the previous month. Total steel production in the CIS+Ukraine in November 2023 increased by 14.8% y/y and remained at the level of October – 7.4 million tons.

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

• China – 76.1 million tons (+0.4% compared to November 2022);
• Bharat – 11.7 million tons (+11.4%);
• Japan – 7.1 million tons (-0.9%);
• USA – 6.6 million tons (+6.1%);
• Russian Federation – 6.4 million tons (+12.5%);
• South Korea – 5.4 million tons (+11.9%);
• Germany – 2.7 million tons (-2.4%);
• Turkiye – 3 million tons (+25.4%);
• Iran – 3 million tons (+7.6%);
• Brazil – 2.7 million tons (-3.8%).

In January-November 2023, world steel production increased by 0.5% compared to the same period in 2022 – up to 1.71 billion tons. During this period, the CIS countries + Ukraine increased their total steel production by 4.4% y/y – up to 81.4 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.