Steel Markets
Global steel output up in November: Worldsteel
Written by Michael Cowden
December 21, 2023
Global steel production rose in November compared to a year earlier, with output in China roughly flat and significant gains elsewhere, according to the latest figures from the World Steel Association (worldsteel).
Nov. ’23 vs. Nov. ’22
All told, world steel production stood at 145.5 million metric tons in November 2023, up 3.3% from November 2022.
China – by far the world’s largest steel producer – made 76.1 million tons of steel in November 2023, up 0.4% from November of last year. The United States produced 6.6 million tons last month, up 6.1% year over year (YoY). And EU mills made 10.6 million tons in November 2023, up 3.2% YoY.
Some of the biggest percentage gains in November were recorded by Turkey (3 million tons, up 25.4% YoY), Russia (6.4 million tons, up 12.5% YoY), South Korea (5.5 million tons, up 11.9% YoY), and India (11.7 million tons, up 11.4% YoY).
Partially offsetting those gains were declines in Germany, Europe’s largest steelmaking nation (2.7 million tons, down 2.4% YoY), and Japan (7.1 million tons, down 0.9%).
Jan.-Nov. ’23 vs. Jan.-Nov. ’22
Through 11 months of 2023, global steel output stood at nearly 1.72 billion tons, up 0.5% from the same period in 2022.
China accounts for the vast bulk of that tonnage (952.1 million tons, up 1.5% YoY), followed by India (128.2 million tons, up 12.1% YoY), and Japan (80 million tons, down 2.8% YoY).
The US was the world’s fourth-largest steel producing nation through the 11 months of 2023 (73.9 million tons, down 0.5% YoY).
Notable fact
China made more steel in November 2023 than the US made in 11 months this year.
Michael Cowden
Read more from Michael CowdenLatest in Steel Markets
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
Global steel production eases in August
Steel mill output around the world totaled 144.8 million metric tons (mt) in August, the lowest monthly rate of 2024.
Dismal ABI suggests weakness in non-res construction will persist
The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.
AISI: Raw steel production slips to 5-week low
Domestic raw steel mill production eased last week but remains at a healthy rate, according to the latest release from the American Iron and Steel Institute (AISI).