Global steel production falls to near two-year low in September

World crude steel output declined for the fourth consecutive month in September, slipping 3% from August to an estimated 141.8 million metric tons (mt), according to the latest figures from the World Steel Association (worldsteel). This marks the lowest production rate since December 2023 and stands 15% below the two-year high reached earlier this year (166.5 million mt in March).

On a 12-month moving average (12MMA) basis, annual production has averaged 151.4 million mt per month across the last 12 months, down 1% from the same period one year prior (Figure 1). Up until this month, annual output had generally hovered between 152-154 million mt over the past three years, similar to pre-pandemic levels.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.