Global steel production stable through June

The total volume of raw steel produced by mills around the globe eased 2% in June to an estimated 155.7 million metric tons (mt), according to the latest figures published by the World Steel Association (worldsteel). June output was marginally above the average monthly production rate of 2026 to date, and 2% higher than the same month of last year. Production remains weak compared to the strong summers of 2021-24.

On a 12-month moving average (12MMA) basis, annual production has averaged 149.4 million mt per month across the past year (Figure 1). Just one month prior, this rate fell to a seven-year low of 149.2 million mt. Prior to the past year, annualized output had generally hovered between 152-154 million mt for over three years, similar to pre-pandemic levels.

June’s daily production rate was 5.19 million mt per day, the second-strongest rate seen over the past 14 months. Compare this to the two-year low rate of 4.50 million mt seen last December. At June’s daily rate, annualized global production would total approximately 1.89 billion mt (Figure 2). Compared to previous years, this annualized rate is 2% above the same measure of June 2025, but 2-3% below the 2022-24 rates.

Seasonal trends improving

Steel production is highly seasonal, with output stronger in the spring months and weaker in the second part of the year. Annual comparisons can help see past these seasonal variations. Figure 3 shows the year-over-year (y/y) growth rates for global, Chinese, and rest of the world (ROW) production.

Total June output was 2% higher than the same month of 2025, the first month to see positive annual growth after nine consecutive declines. Chinese output was up less than 1% y/y, breaking the one-year streak of negative growth. ROW production was up 3% y/y, the 13th month in a row with positive growth.

China vs. rest of world

China accounted for 54% of global production in June with output of 83.7 million mt, down 1% from May (Figure 4). Chinese production has averaged 78.3 million mt per month in the past year. Since 2023, China has consistently accounted for 50-57% of total global output.

ROW steel output eased 2% m/m in June to 72.0 million mt. ROW production has averaged 71.1 million mt per month across the last year.

Other top producing countries

India maintained its position as the second-largest steel producer in June, producing 9% of the global total. Other significant producers included the United States at 5%, Japan and Russia at 4%, South Korea at 3%, and Turkey, Germany, Brazil, and Vietnam at 2%.

Comparing year-to-date (YTD) output by country to the same period of 2025 reveals modest shifts in market share. In the first half of 2026, Vietnamese production was up 27% from the same time frame of 2025, Germany was up 9%, Turkey was up 8%, India was up 7%, and the United States was up 6%. Meanwhile, YTD output in Russia was down 8% y/y and China was down 3%.

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.