Global steel production declined through August

Daily production fell to an eight-month low of 4.69 million mt per day in August, 3% lower than July. In the past 12 months, daily production has been as high as 5.37 million mt (March) and as low as 4.67 million mt (December). At August’s rate, annualized global production would total approximately 1.71 billion mt (Figure 2).

Seasonal trends

Global production is highly seasonal, with output typically strongest in the spring months and weaker in the second half of the year. Annual comparisons can help look past these shifts. Figure 3 shows the year-over-year (y/y) growth rates for total global production, as well as for China and the rest of the world (ROW) grouped together. Total August output was nearly identical to the same month in 2024, up less than 1%. ROW growth was just over 1% and has been holding steady for over a year. Chinese output has seen wider swings recently, with negative growth rates as low as -9% over the summer, slowing to less than -1% in August.

Regional breakdown

China accounted for 53% of August’s output, producing 77.4 million mt (Figure 4). Chinese output was down 3% m/m and was also down 1% from the same month last year. Production averaged 82.1 million mt per month across the past year. Since 2023, Chinese mills have consistently accounted for 50-57% of total global production.  

ROW steel output totaled 67.9 million mt in August, down 3% from July but 1% higher than levels seen one year ago. ROW production has averaged 69.5 million mt per month over the past year.

Top countries

India retained its position as the second-largest steelmaker in August, producing 10% of the global total. Other significant producers included the United States and Japan at 5% each, Russia and South Korea at 4%, Turkey, Brazil, and Germany at 2%, and Iran at 1%.

Comparing YTD output by country to the same period of 2024 reveals modest shifts in market share. Across the first eight months of 2025, German production is down 12% compared to the same time frame last year, Russia and Japan fell 5%, and Iran and South Korea declined 4%. India was the outlier, with production increasing 10%.