Global crude steel production decreased by 3.4% year-over-year and 4.4% month-over-month to 144.7 million mt in February 2025, according to data published by the World Steel Association on March 25.
China is estimated to have produced 78.9 million mt in February 2025, down 3.3% year over year and 3.67% month over month. It accounts for 54% of total global crude steel output.
The world’s second-largest steel producer, India, saw production jump of 6.3% year year over year but down by 6.62% month over month to 12.7 million mt, followed by Japan at 6.4 million mt, down 8.5% year over year, but not far from the 5.1 million mt produced in January, data showed.
The US produced 6 million mt, down 7.0% year over year and down from the 6.8 million mt produced in January.
Russia, despite the ongoing conflict with Ukraine, is estimated to have produced 5.8 million mt, down 3.4% year over year and slightly below the 5.9 million mt of January output.
South Korea produced 5.2 million mt, up 0.7% year-on-year, with production that was close to 5.4 million mt in January.
Turkiye produced 2.9 million mt, down 5.6% compared to the same period last year and down by 9.8% month over month. Brazil produced 2.7 million mt, down 1.6% and down respect 2.8 million mt in January production.
The largest European steel producer, Germany, produced 2.7 million mt, down 13.5% year over year and stable month over month. The EU as a whole produced 10.1 million mt, a decline of 7.1% year over year.
Platts, part of S&P Global Commodity Insights, assessed domestic HRC prices in Northern Europe at Eur635/mt ex-works Ruhr March 24, stable day over day and up 13% since the start of 2025.
Iran produced 1.7 million mt, down 21.8%, over the year and down respect the 2.2 million mt of January.
Since the beginning of the year, the world has produced 301.95 million mt of crude steel, down by 2.2% from the same period a year ago. In the period January-February, all the continents registered a decrease, with the only exception of Africa.
