Economy
Worldsteel: Global Production Pulls Back in April
Written by Laura Miller
May 23, 2023
Global steel production during the month of April was lower both sequentially and on-year, according to the latest data from the World Steel Association (worldsteel).
Worldsteel reports an estimated 161.4 million metric tons of crude steel was produced globally in April. This was a 0.8% drop from the month prior and a 2.4% decline from April 2022.
Recall that production during the month of March was at a 10-month high of 165.1 million metric tons.
Production in China fell back 3.2% month-on-month to an estimated 92.6 million metric tons, while output in the rest of world declined by just 0.9% to 68.8 million metric tons. The result was a reduction in China’s percentage of world production, from 58% in March to 57.4% in April, according to worldsteel data.
Note that in both 2021 and 2022 global production peaked during the month of May.
Regionally, April’s output was higher year-over-year in Africa (+4.8% to 1.3 million metric tons); the Middle East (+4.2% to 4.2 million metric tons); Russia, Ukraine, and other CIS (+5.9% to 7.5 million metric tons).
Production was lower YoY in Asia and Oceania (-1.5% to 121.1 million metric tons), the EU (-11.7% to 11.1 million metric tons), other Europe (-17.3% to 3.5 million metric tons), North America (-4.6% to 9.2 million metric tons), and South America (-2.2% to 3.6 million metric tons).
By Laura Miller, laura@steelmarketupdate.com
Laura Miller
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