Topmost Steel Producing Countries in H1 2024-worldsteel

SEATTLE (Scrap Monster): The World Steel Association (worldsteel) has released the list of top 10 steel producing nations during the initial six-month period this year.

China topped the list, with the country’s output recording modest decline by 1.1% over the previous year. The country’s crude steel output totalled 530.6 Mt during the first half of 2024. The monthly output during June this year totalled 91.6 Mt, marginally lower by 0.2% over the corresponding month a year before.

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India’s estimated output, at 74.2 Mt, recorded notable surge by 7.4% over Jan-June ‘23. The country produced 12.3 Mt of steel during the month of June alone. The Japanese output inched lower by 4.2% during the month to total 7.0 Mt, while its cumulative yearly output until June this year was down by 2.6% over the prior year to total 42.7 Mt.

The U.S. produced 40 Mt of steel in the initial six months of 2024, down by 2.4% when compared with the prior year. Russia is estimated to have produced 36.8 Mt, marginally lower by 3.0% year-on-year. The output until June 2024 by other countries in the top ten list in Mt is as follows: South Korea (31.5), Germany (19.4), Turkiye (18.6), Iran (16.6) and Brazil (16.4).

Among the top ten steel producing nations, South Korea recorded highest dip in steel output during H1 2024, falling significantly by 6.4% year-on-year. On the other hand, Turkish output surged the most, recording 16.9% jump year-on-year.