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    Analysis

    December 23, 2025

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

    Written by Brett Linton

    The total amount of raw steel produced around the world slipped 3% from October to an estimated 140.1 million metric tons (mt) in November, according to World Steel Association (worldsteel) data. This marks the lowest monthly production rate since December 2023.

    On a 12-month moving average (12MMA) basis through November, annual production has averaged 150.2 million mt per month over the last year, down 1% from the same period one year prior (Figure 1). Up until September, annual output had generally hovered between 152 million and 154 million mt for nearly 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.

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