Analysis
April 24, 2026
Global steel output rises in March but still down from last year
Written by Laura Miller
World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) totaled an estimated 159.9 million metric tons (mt) in March. Production jumped 12.8% from a shorter February, but was down 4.0% from March 2025, according to newly released data.
On a 12-month moving average (12MMA) basis through March, annual production has averaged 148.1 million mt per month over the last year, down 2.9% from the same period a year earlier (see Figure 1). Through September 2025, annual output had generally hovered between 152 million and 154 million mt for nearly three years, similar to pre-pandemic levels. The trend has since deviated, declining over the past six months.
March’s daily production rate was 5.16 million mt, down 3.9% year over year (y/y) but up from 5.06 million mt in February.
Daily production has increased for three months in a row now, after having been on a downward trend since March 2025’s daily production of 5.37 million mt.
At March’s rate, annualized global production would total approximately 1.88 billion mt (see Figure 2), an 11-month high.
Seasonal trends
Steel 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 see past seasonal variations. Figure 3 shows the year-over-year growth rates for total global production and for China and the rest of the world (ROW) combined.
March’s output was 4.0% lower than the same month in 2025, marking the seventh consecutive month of negative annual growth. ROW production declined for a second month, down 1.1% y/y. China’s annual growth rate, at -6.3%, was negative for the 12th straight month.
Regional breakdown
China accounted for 54% of global production in March, producing 87 million mt (see Figure 4). That’s up 14% from February, and the highest production rate since March last year. Chinese output has averaged 77.91 million mt across the past year. In March, China’s share of global steel production remained at 54% for a second month, the highest since June.
ROW steel output declined 1.1% y/y to 72.9 million mt in March, the highest rate since March last year. ROW production has averaged 70.18 million mt over the past year.
North American output increased 3.5% y/y to 9.5 million mt.
The Middle East saw the steepest decline, down 33.5% to 3.5 million mt.
Top-producing countries
India maintained its spot as the second-largest steel producer in March, producing 15.3 million mt, up 9.4% y/y, while the number three producer, the United States, produced 7.2 million mt, up 5.2%.
Japan produced 6.9 million mt, down 4.1% y/y, and South Korea and Russia each produced 5.4 million mt, with South Korea up 1.5% and Russia down 11.4%.
Turkey and Germany each produced 3.3 million mt, up 6.4% and 7.5%, respectively.
Brazil produced 2.8 million mt, down 2.5%, and Vietnam produced an estimated 2.2 million mt, up 5.7%.
