Global steel production dropped marginally in 2024 to 1,882.6 million tonnes (mt) against 1,897.9 mt in 2023 - a 0.8 per cent drop, data from World Steel Association (worldsteel) showed.

China, the biggest producer, saw its output drop 1.7 per cent from 1,022.5 mt in 2023 to 1,005.1 mt in 2024. India’s production increased 6.3 per cent from 140.8 mt in 2023 to 149.6 mt in 2024. India is the second-largest producer in the world, though by a distance.

In December, global crude steel output increased by 5.6 per cent to 144.5 million tonnes (mt) compared with 136.8 mt in the corresponding period a year ago.

According to worldsteel, China produced 76 mt in December — an increase of 11.8 per cent from the year-ago period. Its production continued to increase after the slump witnessed during the earlier part of the year. India’s output went up 9.5 per cent to 13.6 mt.

Russian production falls

Russia’s production nosedived by 8.6 per cent at 5.7 mt. The South Korean production too slipped, going down 3.2 per cent to 5.2 mt. While Germany’s production increased 4.1 per cent at 2.7 mt, Turkiye’s output plummeted 7.6 per cent to 3 mt. The US production went down by 2.4 per cent to 6.7 mt.

Brazil’s output went up by 1.8 per cent to 2.6 mt. Iran’s production went south by 8.2 per cent at 2.6 mt. The steel production in Japan dropped by 1.1 per cent at 6.9 mt.

Region-wise, Africa saw its output drop 1 per cent. While the EU saw its numbers increase by 7.2 per cent, Europe’s (Others) output decreased by 14.3 per cent. Asia and Oceania’s steel production went up 9 per cent. West Asia’s production dipped 4.5 per cent, while North America’s output dropped by 4.3 per cent. South America’s steel production decreased by 3.8 per cent compared with the December 2023 figures. Russia and other CIS nations saw their figures fall by a huge 6.8 per cent.

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