World crude steel production down annually in July

ISTANBUL

World crude steel production declined 4.7% on an annual basis in July, according to data from the World Steel Association (worldsteel) on Thursday.

Steel output from 71 countries reporting to worldsteel fell to 152.8 million tons, data showed.

China, the world’s number one steel producer, saw 82.9 million tons of steel produced, down 9% year-on-year in July.

India’s steel production climbed 6.8% to 12.3 million tons, while Japan’s figure fell 3.8% to 7.1 million tons in the same period.

The US saw a 2.1% annual decline, producing 6.9 million tons in July, and Russia’s steel output in the same period fell 3.1% to 6.3 million tons.

While South Korea’s annual steel production fell 3.4%, coming in at 5.5 million tons, Germany’s figure rose 4.8% at 3.1 million tons, followed by Türkiye at 3.1 million tons, up 4% in the same period.

Additionally, Brazil’s steel production climbed 11.6% year-on-year in July, reaching 3.1 million tons, and Iran produced 1.8 million tons in the same period, down 18.7%.

In January-July 2024, steel production across 71 countries declined 0.7% to 1.1 billion tons, according to worldsteel.