Steel Markets

Global steel production inches up, China’s falls in October

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

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.