Long Products
August 28, 2026
World steel production declined in July
Written by Brett Linton
The total volume of raw steel produced by mills around the globe eased for the second month in a row in July to an estimated 149.2 million metric tons (mt), according to the latest World Steel Association (worldsteel) figures. July output was 4% below the previous month and less than 1% below the same month of 2025. Global production remains weak compared to the strong summers of 2021-2024.
Annual production has averaged 149.4 million mt per month over the past year (Figure 1). Just two months prior, this 12-month moving average (12MMA) rate fell to a seven-year low of 149.2 million mt. Prior to mid-2025, 12MMA output had generally hovered between 152-154 million mt for over three years, similar to pre-pandemic levels.
July’s daily production rate was 4.81 million mt per day, the lowest rate recorded this year. This rate is just 7% above the two-year low of 4.50 million mt set last December. At July’s daily rate, annualized global production would total approximately 1.76 billion mt (Figure 2).
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 global output in July was less than 1% below the same month of 2025, and Chinese output was down 4% y/y. Other than in June, we have seen negative growth rates both globally and in China for most of the past year. ROW production was up 3% y/y, the 14th month in a row with positive growth.
China vs. rest of world
China accounted for 52% of global production in July with output of 76.9 million mt, down 8% from the prior month (Figure 4). Chinese production has averaged 78.1 million mt per month over the last year. Since 2023, China has consistently accounted for 50-57% of total global output.
ROW steel output rose less than 1% m/m in July to 72.3 million mt. ROW production has averaged 71.3 million mt per month across the last year.
Other top producing countries
India maintained its position as the second-largest steel producer in July, producing 10% of the global total. Other significant producers included the United States and Japan at 5% each, Russia and South Korea at 4%, 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 seven months of 2026, Vietnamese production was up 28% from the same time frame of 2025, Germany and Turkey were up 8%, and the United States and India were up 6%. Meanwhile, YTD output in Russia was down 6% y/y and China was down 3%.
