Global Steel Production Sees Modest Growth in December 2024 Amid Regional Variations and Shifts

In December 2024, global crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) reached 144.5 million tonnes (Mt), marking a 5.6% increase compared to December 2023.

Regional Production:

• Africa: Produced 1.9 Mt, a 1.0% decrease from December 2023.

• Asia and Oceania: Produced 106.3 Mt, up 9.0%.

• European Union (EU 27): Produced 9.6 Mt, an increase of 7.2%.

• Europe, Other: Produced 3.3 Mt, down 14.3%.

• Middle East: Produced 4.6 Mt, a decrease of 4.5%.

• North America: Produced 8.8 Mt, down 4.3%.

• Russia & other CIS + Ukraine: Produced 6.8 Mt, a decline of 6.8%.

• South America: Produced 3.1 Mt, down 3.8%.

Top 10 Steel-Producing Countries in December 2024:

1. China: 76.0 Mt, up 11.8% from December 2023.

2. India: 13.6 Mt, an increase of 9.5%.

3. Japan: 6.9 Mt, a slight decrease of 1.1%.

4. United States: 6.7 Mt, down 2.4%.

5. Russia: Estimated 5.7 Mt, a decline of 8.6%.

6. South Korea: 5.2 Mt, down 3.2%.

7. Germany: 2.7 Mt, an increase of 4.1%.

8. Türkiye: 3.0 Mt, down 7.6%.

9. Brazil: 2.6 Mt, up 1.8%.

10. Iran: 2.6 Mt, a decrease of 8.2%.

Annual Overview for 2024:

Total global crude steel production in 2024 was 1,882.6 Mt. China remained the largest producer with 1,005.1 Mt, accounting for approximately 53% of global production, though this represented a 1.7% decrease from 2023. India followed with 149.6 Mt, marking a 6.3% increase. Japan produced 84.0 Mt, a decline of 3.4%, while the United States produced 79.5 Mt, down 2.4%. Russia's estimated production was 70.7 Mt, a 7.0% decrease from the previous year.

These figures highlight significant regional variations and shifts in steel production among the top-producing nations.