The latest data on global crude steel production for July 2024 reveals a varied performance across different regions, with some areas showing growth while others experienced declines. The 71 countries included in the report, which represent approximately 98% of the world's total crude steel production, collectively produced 152.8 million tonnes (Mt) in July 2024, a decrease of 4.7% compared to the same month in 2023. For the first seven months of the year, total production reached 1,107.2 Mt, down by 0.7% year-on-year.
Regional Overview
Africa: Africa's crude steel production reached 2.0 Mt in July 2024, marking a 4.0% increase compared to July 2023. Over the first seven months of the year, the region produced 12.8 Mt, up 3.3% year-on-year.
Asia and Oceania: Asia and Oceania, the largest steel-producing region, saw a significant decrease in production, with July 2024 figures at 112.7 Mt, down 6.4% from the previous year. The region's total production from January to July 2024 was 820.0 Mt, a slight decline of 1.2% compared to the same period in 2023.
European Union (27): The EU (27) demonstrated resilience with a 5.7% increase in crude steel production in July 2024, totaling 10.8 Mt. For the year to date, the EU produced 78.0 Mt, a modest 1.5% growth over the previous year.
Other Europe: In the rest of Europe, production in July 2024 was 3.7 Mt, up 0.6% year-on-year. The region's production from January to July 2024 reached 26.0 Mt, showing a strong 8.9% growth.
Middle East: The Middle East experienced the steepest decline among the regions, with July 2024 production falling by 10.1% to 3.7 Mt. However, the region's total production for the first seven months of the year showed a 3.7% increase, reaching 32.2 Mt.
North America: North America's crude steel production in July 2024 stood at 8.8 Mt, a 2.4% decrease from July 2023. The region produced 62.4 Mt in the first seven months of 2024, down 3.8% from the same period last year.
Russia & other CIS + Ukraine: This region's production was slightly down in July 2024, with 7.5 Mt produced, a 0.8% decrease year-on-year. From January to July 2024, the region produced 51.5 Mt, showing no change compared to the previous year.
South America: South America was one of the bright spots, with a 6.0% increase in July 2024 production, totaling 3.7 Mt. However, the region's production for the first seven months of the year was slightly down by 0.6%, at 24.2 Mt.
Top Steel-Producing Countries
Among the top steel-producing countries, China remained the largest producer, though its output decreased by 9.0% in July 2024, with production at 82.9 Mt. For the year to date, China produced 613.7 Mt, a 2.2% decline from 2023.
India continued its upward trajectory, producing 12.3 Mt in July 2024, an increase of 6.8% from the previous year. India’s total production for the first seven months of 2024 reached 86.4 Mt, up 7.2%.
Japan produced 7.1 Mt in July 2024, a 3.8% decrease from July 2023, with year-to-date production at 49.8 Mt, down 2.8% year-on-year.
The United States saw a modest increase in July 2024, with production at 6.9 Mt, up 2.1%. However, year-to-date production was 46.9 Mt, down 1.8%.
Russia, estimated to have produced 6.3 Mt in July 2024, saw a 3.1% decline, with its year-to-date production at 43.1 Mt, down 3.0%.
South Korea produced 5.5 Mt in July 2024, down 3.4% from the previous year, and its total production for the first seven months was 37.1 Mt, a 5.9% decline.
Germany showed positive growth, with an estimated 3.1 Mt produced in July 2024, up 4.8%. Germany’s year-to-date production reached 22.5 Mt, a 4.5% increase.
Türkiye also saw growth, producing 3.1 Mt in July 2024, up 4.0%, and 21.7 Mt for the first seven months of 2024, a significant 14.9% increase.
Brazil experienced the highest growth among the top 10 producers, with July 2024 production at 3.1 Mt, up 11.6%. For the year to date, Brazil produced 19.4 Mt, up 3.3%.
Iran faced a substantial decline, with production in July 2024 at 1.8 Mt, down 18.7% from the previous year, though its year-to-date production of 18.4 Mt represented a 2.9% increase.
This diverse performance across regions and countries underscores the varied challenges and opportunities within the global steel industry, as it navigates a complex landscape of economic pressures, energy transitions, and evolving market demands.
