Posted on 25 Jul 2024
During the first half of 2024, crude steel production among the 71 countries surveyed by the World Steel Association (WSA) remained unchanged on year at 954.6 million tonnes, according to the association's latest release on Tuesday. The 71 countries produced approximately 98% of the world's total crude steel output last year, WSA notes.
For June alone, output among the surveyed countries edged up 0.5% on year to 161.4 million tonnes, though this was lower by 2.1% from May, Mysteel Global calculated based on the WSA data.
Over January-June, China's crude steel output totalled 530.6 million tonnes, maintaining the country's position as the world's top steelmaking country despite a 1.1% on-year dip, the WSA noted in the release. Last month, the country's output witnessed an uptick of 0.2% on year to 91.6 million tonnes.
India, the world's second-largest steel-producing country, reported higher production on year both for H1 and June, rising by 7.4% and 6% respectively to 74.2 million tonnes and 12.3 million tonnes, according to the statistics.
In addition to India, Germany, Türkiye and Brazil among the top ten steel-producing countries worldwide also posted on-year rises in output for H1 and for last month, the release indicated.
However, Japan, the U.S., Russia and South Korea – ranking third to sixth in terms of crude steel output volume – continued to see their output drop on year over January-June and during June, Mysteel Global notes. Among them, South Korea posted the largest on-year falls for H1 and last month, as its output slipped by 6.4% and 7.2% respectively.
Crude steel output of the world's top 10 steelmaking countries | ||||
Country | Jun 2024 | Jan-Jun 2024 | ||
(mln t) | Y-o-Y (%) | (mln t) | Y-o-Y (%) | |
Total 71 | 161.4 | 0.5 | 954.6 | 0.0 |
China | 91.6 | 0.2 | 530.6 | -1.1 |
India | 12.3 | 6.0 | 74.2 | 7.4 |
Japan | 7.0 | -4.2 | 42.7 | -2.6 |
U.S. | 6.7 | -1.5 | 40.0 | -2.4 |
Russia (e) | 6.0 | -4.1 | 36.8 | -3.0 |
South Korea | 5.1 | -7.2 | 31.5 | -6.4 |
Germany | 3.2 | 8.9 | 19.4 | 4.5 |
Türkiye | 3.1 | 4.3 | 18.6 | 16.9 |
Iran | 2.6 | -8.5 | 16.6 | 5.9 |
Brazil | 2.9 | 11.8 | 16.4 | 2.4 |
(e): estimated, source: WSA | ||||
Source:Mysteel Global
