World Crude Steel Output Witnessed Notable Dip in 2022

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 1,831.5 million tonnes (Mt) during the entire year 2022. This is significantly down by 4.3% when compared with the annual crude steel production during 2021.

ALSO READ:

Steel Consumption Levels to Hit Fresh Peak in India

worldsteel Announced List of Top 10 Steel Producing Countries

The largest regional producer of steel during the previous year was Asia and Oceania region, which recorded a cumulative output of approximately 1,351.3 Mt. The region accounted for almost 74% of the total global crude steel production. The regional output dropped by 2.3% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 10.5% to 136.7 Mt. In third place was North America with a production of 111.4 Mt. The year-to-date production posted modest decline by 5.5% over 2021.

Russia and other CIS countries along with Ukraine recorded notable decline by 20.2% in output to 85.2 Mt in 2022. The South American output, at 43.3 Mt, was down modestly by 5.0%, when matched with the previous year. The Middle East output has edged lower by 5.9% to 20.4 Mt. Meanwhile, the African countries saw their output drop by 9.1% to around 7.3 Mt during January to June this year.

It must be noted that the 64 countries included in the list, had accounted for 98% of world’s total crude steel production in 2021.