Steel Markets
Global steel production inches up, China’s falls in October
Written by Laura Miller
November 22, 2023
Global steel output inched higher from September to October, even as production declined in China, the World Steel Association (worldsteel) said in its latest monthly report.
Producers around the world produced 150 million metric tons of steel in October. This was just slightly higher than the 149.3 million metric tons made the month before and was a 0.6% year-on-year rise, worldsteel said.
China, the world’s top steel producer, saw a 3.7% month-on-month decline in output to 79.1 million metric tons. China’s production was also down 1.8% YoY. October marked the lowest month for Chinese steel production since December 2022.
Meanwhile, steel output in the rest of the world (RoW) rose by 5.5% MoM and 3.4% YoY to 70.9 million metric tons in October.
Regionally, Russia, other CIS, and Ukraine saw the highest YoY rise in output, increasing by 12.9% YoY to 7.4 million metric tons. The Middle East’s production rose by 5%, Africa’s by 3.5%, and Asia and Oceania’s by 0.8%.
North America’s steel output was flat YoY in October at 9.3 million metric tons, according to worldsteel’s figures.
Regions with lower on-year production included South America (-8.7% to 3.4 million metric tons), the EU (-7.1% to 10.6 million metric tons), and other Europe (-0.2% to 3.6 million metric tons).
Laura Miller
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