Global steel production fell by 6.5% y/y in July

Global steel production in July 2022 decreased by 6.5% compared to July 2021 – to 149.3 million tons. This is evidenced by the global rating of 64 steel-producing countries World Steel Association.

Total steel production in the CIS countries and Ukraine for the July 2022 fell by 29.1% y/y.

The top ten steel-producing countries, according to World Steel:

• China – 81.4 million tons (-6.4% compared to July 2021);
• India – 10.1 million tons (+3.2%);
• Japan – 7.3 million tons (-8.5%);
• USA – 7 million tons (-6.4%);
• Russia – 5.5 million tons (-13.2%);
• South Korea – 6.1 million tons (-0.6%);
• Germany – 3 million tons (-2%);
• Turkey – 2.7 million tons (-20.7%);
• Brazil – 2.8 million tons (-8.7%);
• Iran – 2 million tons (-34.1%).

In January-July 2022, world production decreased by 5.4% compared to the same period in 2021 – to 1.1 billion tons. CIS countries reduced production by 18.8% in 7 months – to 50.5 million tons.

As GMK Center reported earlier, in 2021 global steel output increased by 3.7% compared to 2020 – up to 1.95 billion tons. Ukraine for the year increased steel production by 3.6%, to 21.4 million tons. The country took 14th place in the global ranking of 64 steel-producing countries.