September 2024 crude steel production

Global Crude Steel Production Declines in September 2024

According to the World Steel Association, global crude steel production for September 2024 reached 143.6 million tons, representing a 4.7% year-on-year decrease. This marks a continuation of declining trends in steel production observed over the past few years.

Regional Steel Production Insights

In September 2024, steel production varied across regions:

• Africa: 1.9 million tons (+2.6% YoY)

• Asia and Oceania: 105.3 million tons (-5.0% YoY)

• European Union (27 countries): 10.5 million tons (+0.3% YoY)

• Other European Countries: 3.6 million tons (+4.1% YoY)

• Middle East: 3.5 million tons (-23.0% YoY)

• North America: 8.6 million tons (-3.4% YoY)

• Russia and Other CIS Countries + Ukraine: 6.8 million tons (-7.6% YoY)

• South America: 3.5 million tons (+3.3% YoY)

This data reflects the contributions of 71 steel-producing countries, which collectively account for approximately 98% of global crude steel production.

Top Steel-Producing Countries

In September 2024, the leading steel-producing countries included:

• China: 77.1 million tons (-6.1% YoY)

• India: 11.7 million tons (-0.2% YoY)

• Japan: 6.6 million tons (-5.8% YoY)

• United States: 6.7 million tons (+1.2% YoY)

• Russia: 5.6 million tons (-10.3% YoY)

• South Korea: 5.5 million tons (+1.3% YoY)

• Germany: 3.0 million tons (+4.3% YoY)

• Turkey: 3.1 million tons (+6.5% YoY)

• Brazil: 2.8 million tons (+9.9% YoY)

• Iran: 1.5 million tons (-41.2% YoY)

Industry Commentary

Dr. Martin Theuringer, Chair of the Market Research Committee of the World Steel Association, commented on the challenging landscape for global steel demand, citing factors such as declining consumer purchasing power, significant monetary tightening, and geopolitical uncertainties. The forecast indicates a downturn in steel demand for China and many major developed economies in 2024, while India is expected to maintain robust growth.

Conclusion

As the steel industry navigates these challenges, it remains committed to addressing its carbon footprint and enhancing production efficiencies. The World Steel Association continues to advocate for sustainable practices to ensure the sector's resilience in the face of global economic fluctuations.