Global Steel Output Dipped Marginally in January

SEATTLE (Scrap Monster): The world crude steel production by 71 countries reporting to the World Steel Association (worldsteel) totalled 148.1 million tonnes (Mt) in the month of January this year, modestly lower by 1.6% when compared with the same month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 107.60 Mt during the month. The second largest producer was the bloc of EU-27 countries region, with an output of 10.20 Mt. In third place was North American region, which recorded an output of 9.20 Mt. The output (in Mt) by the other regions is as follows: Africa (2.0), Russia and other CIS+Ukraine (7.20), Other Europe (3.90), Middle East (4.7) and South America (3.40).

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The Middle East region output surged the most, rising significantly by 23.10% from the prior year month. Other European counties and Middle East regions too saw notable surge in output by 22.5% and 16.3% respectively. Russia & Other CIS + Ukraine countries recorded 4% surge in output year-on-year. All other regions reported fall in crude steel production during the month.

The largest production decline of 6.3% was recorded by the South American region. The output by Asia and Oceania region diminished by 3.6% over January 2023. Also, North America and EU-27 region output witnessed decline by 2.1% and 1.8% respectively.

The 71 countries in the list accounted for nearly 98% of the world crude steel production in 2023.