Global crude steel production increased by 0.5 per cent in June 2024 to 161.4 million tonnes (mt) compared with 160.6 mt in the corresponding period a year ago.
According to the World Steel Association (worldsteel), the output in China, the top producer, went up to 91.6 mt in June — an increase of 0.2 per cent from the year-ago period. India reported a 6 per cent surge in production at 12.3 mt.
Upsurge in Germany
Germany’s output soared by 8.9 percent to reach 3.2 mt. South Korea’s production plunged by 7.2 per cent to 5.1 mt. Brazil’s production boomed by 11.8 per cent at 2.9 mt. While Japan’s output nosedived by 4.2 per cent to 7 mt, Russia suffered a similar fate with the production dipping by 4.1 per cent to 6 mt. The United States’ production went down by 1.5 per cent at 6.7 mt.
Turkiye saw their output go north by 4.3 per cent at 3.1 mt while Iran’s production dropped by 8.5 per cent at 2.6 mt.
Region-wise, Africa saw its output plunge by 9.6 per cent. While EU saw its numbers go up by 5.1 per cent, Europe (Others)’s output went up by 2.1 per cent. Asia and Oceania’s steel production increased by 0.3 per cent. The West Asian region’s production dropped by 2.7 per cent, while North America’s output slipped by 1.9 per cent. South America’s steel production surged by 4.1 per cent compared with June 2023 figures. Russia and other CIS nations saw their figures go up 1.4 per cent.
The World Steel Association in its short-range outlook has forecast that demand will see a 1.7 per cent rebound this year to reach 1,793 mt. Steel demand is forecast to grow by 1.2 per cent in 2025 to reach 1,815 mt.