Worldsteel: Global steel production rises 1% year over year in October
Global crude steel production reached 152.1 million mt in October, rising 1% year over year and 5.9% from September, according to World Steel Association data published Nov. 22.
This brought total production for the first 10 months of 2024 to 1.5 billion mt, down 1.6% year over year.
China produced 81.9 million mt in October, increasing 2.9% from a year earlier and up 6.5% from September, accounting for 53.8% of the total global crude steel output.
This brought China’s January-October volume to 850.7 million mt, down 3% year over year.
The world’s second-largest steel producer India saw production edge up 1.7% year over year to 12.5 million mt in October, which was also up 6.8% month over month, the data showed.
India’s cumulative January-October output rose 5.6% to 123 million mt, according to worldsteel.
Japan’s October production was 6.9 million mt, down 7.8% year over year but up 4.5% from September, with January-October output down 3.7% year over year at 70.2 million mt.
US output in October was 6.6 million mt, down 2% year over year and down 1.5% month over month, taking January-October production to 66.7 million mt, down 1.9% from the previous year.
Russia was estimated to have produced 5.6 million mt in October, down 15.2% year over year and steady from September, bringing its estimated January-October output to 59.4 million mt, a decline of 6.8% from the previous year.
South Korea produced 5.4 million mt of crude steel in October, down 1.8% year over year and 1.8% from September, with the 10-month volume down 5.1% from the prior year at 53.1 million mt, the data showed.
Europe Jan-Oct output up 2.1%
Crude steel production in the EU rose 5.5% year over year and 6.2% month over month to 11.3 million mt in October, the data showed.
The EU’s January-October volume was 109.3 million mt, climbing 2.1% year over year.
Germany, the largest steel producer in Europe, saw its crude steel production rise 14.7% year over year to 3.2 million mt, which was also 7% higher from September.
Germany produced 31.6 million mt crude steel in January-October, up 5% year over year, the data showed.
Platts, part of S&P Global Commodity Insights, assessed Northwest European HRC at Eur560/mt ex-works Ruhr on Nov. 21, down 18% from the start of 2024.
Turkey produced 3 million mt of steel in October, up 0.7% year over year, brining the 10-month total to 30.9 million mt, rising 12.4% year over year.
Brazil’s October crude steel production also rose 16.2% year over year to 3.1 million mt, while Iran’s fell 1.9% year over year to 3 million mt.
Crude steel data covers the 71 countries that report to worldsteel, accounting for about 98% of global crude steel production.
October production of pig iron from 37 countries was 104.4 million mt, rising 0.2% year over year and 4.5% from September, the data showed, while direct-reduced iron produced from 13 countries amounted to 12.8 million mt, up 16.9% year over year and 19.9% higher than the previous month, the data showed.
worldsteel: global steel production falls 6.5% on year in Aug
Global crude steel production totaled 144.8 million metric tons in August, dropping 6.5% year on year and down 4.9% from July, according to World Steel Association data published Sept. 24.
This brought total production for the first eight months of 2024 to 1.25 billion metric tons, down 1.5% on the year.
China produced 77.9 MMt in August, down 10.4% on the year and 6% from July, making up 53.8% of total global crude steel output.
This brought China’s January-August volume to 691.4 MMt, down 3.3% year on year.
The world’s second-largest steel producer India saw production grow 2.6% year on year in August to 12.3 MMt, which was also up 1% month on month, the data showed.
India’s cumulative January-August output rose 6.5% to 98.5 MMt, according to worldsteel.
Japan’s August production was 6.9 MMt, down 3.9% on the year and 3.2% lower than July, with January-August output down 2.9% on the year at 56.7 MMt.
US output in August was 7 MMt, edging up 0.7% year on year and up 3.4% on the month, taking January-August production to 53.8 MMt, down 1.7% year on year.
Russia was estimated to have produced 5.8 MMt in August, falling 11.5% on the year and down 0.7% month on month, bringing its estimated January-August output to 48.5 MMt, down 4.9% on the year.
South Korea produced 5.5 MMt of crude steel in August, down 2.2% year on year and down 0.9% from July, with the eight-month volume down 5.5% on the year at 42.5 MMt.
Europe Jan-Aug output up 2.2%
For the European Union, crude steel production rose 2.2% on the year to 9.1 MMt in August, although this was 17% lower on the month, the data showed.
Europe’s January-August volume was 87.2 MMt, climbing 1.5% on the year.
Germany, the largest steel producer in Europe, saw its crude steel production edge 0.5% higher on the year to 2.9 MMt, although this was down 8.6% on the month.
In January-August, Germany produced 25.4 MMt of crude steel, up 4% year on year, the data showed.
Platts, part of S&P Global Commodity Insights, assessed domestic HRC prices in Northern Europe at Eur555/mt ex-works Ruhr Sept. 23, down 20% since the start of 2024.
Of the top 10 producers, Turkey saw the largest gains in August, with output rising 13.8% year on year to 3.1 MMt, according to the data, also representing a 3% increase from July. Eight-month production was up 14.8% on the year at 24.8 MMt.
Brazil produced 3 MMt in August, rising 7.3% year on year, but down 3% from July, while Iran’s monthly output was 1.4 MMt, falling 9.9% on the year and 22.7% lower than the previous month.
Brazil’s estimated production over January-August climbed 3.8% on the year to 22.4 MMt, while Iran’s output for the eight-month period rose 1.9% to 19.8 MMt.
October production of pig iron from 37 countries was 102.3 MMt, falling 6.1% year on year, the data showed, while direct reduced iron produced worldwide from 13 countries amounted to 10.5 MMt, up 3.35% year on year, the data showed.
Pig iron output over the January-August period totaled 854.6 MMt, down 3% year on year, while DRI production for the period rose 5.85% on the year to 82.7 MMt.
Crude steel data covers the 71 countries that report to worldsteel, accounting for about 98% of the world’s crude steel production.