Global steel production ticked higher in October

Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel). This comes just one month after production touched a 21-month low of 142.3 million mt. Recall that global output reached a two-year high of 166.5 million mt in March.

On a 12-month moving average (12MMA) basis, annual production has averaged 150.8 million mt per month over the last year, down 1% from the same period one year prior (Figure 1). Up until last month, annual output had generally hovered between 152 million to 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.