Posted on 25 Dec 2024
The 71 countries worldwide under the monthly survey of the World Steel Association (WSA) posted a 1.4% on-year decline in their total crude steel output to 1.69 billion tonnes over January-November, according to the latest data released by the association on Monday. The decline for the past 11 months was slightly smaller than the 1.6% fall for the January-October period.
For November alone, these countries' total steel output edged up 0.8% on year to 146.8 million tonnes, though the volume was lower by 3.5% compared to October, Mysteel Global noted from the WSA release.
As the world's top steel-producing country, China saw its crude steel production slide by 2.7% on year to 929.2 million tonnes over January-November, accounting for 54.8% of the 71 countries' total, according to WSA. China's steel output in November witnessed a 2.5% on-year uptick to reach 78.4 million tonnes, yet it was lower than October's 81.9 million-tonne production.
Excluding China, the combined steel output of the rest of the 70 countries under WSA's tracking slipped by 1% on year to 68.4 million tonnes in November, which also logged a decrease from 70.4 million tonnes for October, the WSA data found.
India, the world's second-largest steelmaking country, reported rather steady steel production, with volumes for November and January-November rising by 4.5% and 5.9% on year to reach 12.4 million tonnes and 135.9 million tonnes, respectively, according to the association.
Among the top 10 steel-producing countries worldwide, Germany, Türkiye, Brazil and Iran also posted on-year rises in their output last month and the accumulated volume in the past 11 months, the release indicated. Notably, Türkiye was the only one among the top 10 to post a double-digit gain for the past 11 months, with the volume up 11.2% to 33.9 million tonnes.
Meanwhile, Japan, the U.S., Russia and South Korea – ranking third to sixth in terms of crude steel output – continued to see their output drop on year, Mysteel Global notes. Of these, Russia posted the largest on-year falls, with its output for November and January-November shrinking by 9.2% and 7% respectively.
Crude steel output of the world's top 10 steelmaking countries | ||||
Country | Nov 2024 | Jan-Nov 2024 | ||
(mln t) | Y-o-Y (%) | (mln t) | Y-o-Y (%) | |
China | 78.4 | 2.5 | 929.2 | -2.7 |
India | 12.4 | 4.5 | 135.9 | 5.9 |
Japan | 6.9 | -3.1 | 77.1 | -3.6 |
U.S. | 6.4 | -2.8 | 72.9 | -2.2 |
Russia (e) | 5.5 | -9.2 | 64.9 | -7.0 |
South Korea | 5.2 | -3.6 | 58.3 | -4.9 |
Germany | 2.9 | 8.6 | 34.5 | 5.3 |
Türkiye | 3.0 | 0.7 | 33.9 | 11.2 |
Brazil | 2.8 | 1.9 | 31.2 | 5.6 |
Iran | 3.1 | 0.1 | 28.0 | 0.5 |
Total 71 | 146.8 | 0.8 | 1,694.6 | -1.4 |
(e): estimated, source: WSA | ||||
Source:Mysteel Global
