Global steel production falls; China, Russia report notable declines

Global crude steel production dropped by 4.7% year-on-year in July, News.Az cited data released by the World Steel Association (worldsteel) on Thursday.

Total steel output from 71 reporting countries fell to 152.8 million tons.

China, the leading global steel producer, reported a 9% decrease in production, totaling 82.9 million tons in July. Meanwhile, India saw an increase of 6.8%, producing 12.3 million tons. Japan’s steel production decreased by 3.8% to 7.1 million tons.

In the U.S., steel production fell by 2.1% to 6.9 million tons, and Russia’s output dropped by 3.1% to 6.3 million tons. South Korea also experienced a decline, with production down 3.4% to 5.5 million tons.

Conversely, Germany’s steel production rose by 4.8% to 3.1 million tons, while Türkiye’s output remained steady at 3.1 million tons, an increase of 4%. Brazil saw a significant increase of 11.6%, producing 3.1 million tons. However, Iran's steel production fell sharply by 18.7%, reaching 1.8 million tons.

For the January-July 2024 period, steel production across 71 countries decreased by 0.7% to 1.1 billion tons.

News.Az