worldsteel: World Crude Steel Output Remained Flat in 2023

SEATTLE (Scrap Monster): The world crude steel production by the 71 countries reporting to the World Steel Association (worldsteel) totalled 1,849.7 million tonnes (Mt) during the previous year. This is more or less flat when compared with the 2022 production, said the latest monthly press release.

The largest regional producer of steel during 2023 was Asia and Oceania region, which recorded a cumulative output of approximately 1,367.2 Mt. The region accounted for approximately 74% of the total global production. The regional output surged higher by 0.7% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 7.4% to 126.3 Mt. In third place was North America with a production of 109.6 Mt. The yearly production by the region posted marginal dip by 1.7% over 2022.

The African region recorded notable jump by 5.7% in output to 22.0 Mt. The production by Russia & Other CIS + Ukraine, at 88.1 Mt, was up substantially by 4.5%, when matched with the previous year. The Middle East output edged higher marginally by 1.3% to 53.2 Mt. Meanwhile, the Asia and Oceania region countries witnessed 0.7% surge in output in 2023, compared with 2022.

It must be noted that the 71 countries included in the list, had accounted for almost 98% of world’s total crude steel production in 2022.

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