Global steel production increased by 6.6% y/y in July

Global steel production in July 2023 increased by 6.6% compared to the corresponding month of 2022, to 158.5 million tons. This is evidenced by the global ranking of 64 steel-producing countries World Steel Association.

Compared to the previous month, global steel output decreased by 0.2%. The total steel production in the CIS countries + Ukraine in July 2023 increased by 9.3% y/y and by 13.8% m/m – up to 7.4 million tons.

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

• China – 90.8 million tons (+11.5% compared to July 2022);
• India – 11.5 million tons (+14.3%);
• Japan – 7.4 million tons (+0.9%);
• USA – 6.9 million tons (+0.5%);
• Russia – 6.3 million tons (+5.8%);
• South Korea – 5.7 million tons (-9%);
• Germany – 3 million tons (-0.5%);
• Türkiye – 2.9 million tons (+6.4%);
• Brazil – 2.7 million tons (-4.7%).
• Iran – 2 million tons (-1.5%);

According to the results of January-July 2023, global steel production decreased by 0.1% compared to the same period in 2022, to 1.1 billion tons. The CIS countries + Ukraine over this period reduced total steel production by 0.8% y/y – up to 51.2 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 for 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.