Metallurgy Market News

Global steel production in July 2024 decreased by 4.7% compared to the same period the previous year.

According to the World Steel Association, global steel production in July amounted to 152.8 million tons

According to the World Steel Association, global steel production in July was 152.8 million tons, down 4.7% year on year and down 4.9% from the previous month.

The data shows total production for January-July was 1.1 billion tons, down 0.7% from the previous year.

Biggest producer China produced 82.9 million tons in July, which is 9% less than in the previous year and 9.5% less than in June, accounting for 54.3% of the total. This brought seven-month output to 613.7 million tonnes, down 2.2% from the previous year.

Second-largest steel producer India produced 12.3 million tonnes in July, up 6.8% more year on year and 2.7% more month on month. Production volume for January-July increased by 7.2% compared to the same period of the previous year and amounted to 86.4 million tons.

In July, Japan produced 7.1 million tons, which is 3.8 % less than in the previous year and 1.1% more than in June. Total production for the seven months was 49.8 million tons, down 2.8% from the previous year.

In July, the United States produced 6.9 million tons of crude steel, down 2.1 % more than the previous year and 4.7% more than the previous month, while Russia is estimated to have produced 6.3 million tons, down 3.1% from the previous year. but 3.35% more than in June.

In January-July, 46.9 million tons were produced in the USA, and 43.1 million tons in Russia, which is 1.8% and 3% less than a year earlier.

South Korea produced 5.5 million tons in July, down 3.4% from the previous year but up 7% from the previous month. Thus, since the beginning of the year, total production amounted to 37.1 million tons, which is 5.9% less than in the previous year.

Turkey produced 3.1 million tons, up 4%, than the previous year, but 0.5% less than the previous month. Over the seven months, production rose 14.9% to 21.7 million tonnes.

Brazil produced 3.1 million tonnes in July, up 11.6% year-on-year and up 7.6% compared to the previous month, while Iran produced 1.8 million tons, down 18.7% year-on-year and 32.3% compared to June.

The European Union produced 10.8 million tonnes in July, up 5.7% from the previous year but down 2.5% from June. Total production for January-July increased by 1.5% compared to the same period last year to 78 million tons.

The region's largest steel producer, Germany, increased production by 3.1 in July million tonnes, up 4.8% year-on-year but down 2.7% month-on-month, according to Worldsteel. This brings the seven-month volume to 22.5 million tonnes, up 4.5% from the previous year.