0.70$US/Lb
0.24$US/Lb
0.22$US/Lb
0.30$US/Lb
0.78$US/Lb
758.00$US/MT
954.00$US/MT
948.00$US/MT
380.00$US/MT
750.25$US/MT
707.77$US/MT
2377.06$US/MT
2718.15$US/MT
51.97$US/MT
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SEATTLE (Scrap Monster): According to the World Steel Association's most recent report, crude steel production worldwide saw a minor decrease in the previous year.
The annual crude steel output by world countries totalled 1,839.4 million tonnes (Mt) in 2024, down by 0.9% upon comparison with the output in 2023. This data includes output from 71 nations that are members of the association. It should be noted that in 2023, these nations produced roughly 98% of the world's crude steel.
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With an output of 1,357.8 Mt, Asia & Oceania was the largest producer among the regions. When compared to 2023, the region's production showed a slight decline of 1%. With an annual production of 129.5 Mt in the previous year, the EU-27 region was the second-largest producer. The output of the EU-27 region increased by 2.6%. North America came in third with 105.9 Mt of output. The output of the region decreased by 4.2% annually.
In 2024, Russia & Other CIS + Ukraine produced 84.8 Mt, a 4.2% decrease from the year before.
South American and Middle Eastern output increased by 0.5% and 0.6%, respectively. There was a slight 1% increase in African output.
The Other Europe area had the largest year-over-year increase in output in 2024, at 3.4%.
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