Global crude steel output increased by 0.8 per cent in November 2024 to 146.8 million tonnes (mt) compared with 145.6 mt in the corresponding period a year ago.

According to the World Steel Association (worldsteel), the top producer, China, produced 78.4 mt in November — a increase of 2.5 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 4.5 per cent to 12.4 mt. India’s January-November output stands at 135.9 mt, a 5.9 per cent improvement over the corresponding period a year ago. 

Russian output falls

Russia’s production nosedived by 9.2 per cent at 5.5 mt. The South Korean production too slipped, going down 3.6 per cent to 5.2 mt. While Germany’s production soared 8.6 per cent at 2.9 mt, Japan’s output dropped 3.1 per cent to 6.9 mt. The US production went down by 2.8 per cent to 6.4 mt.

Brazil’s output went up by 1.9 per cent to 2.8 mt. Iran’s production went north by 0.1 per cent at 3.1 mt. The steel production in Turkiye went up by a meagre 0.7 per cent at 3 mt.

Region-wise, Africa saw its output drop 5 per cent. While the EU saw its numbers increase 3.9 per cent, Europe’s (Others) output decreased 5.5 per cent. Asia and Oceania’s steel production went up 2 per cent. West Asia’s production shot up 2.7 per cent, while North America’s output dropped 5.2 per cent. South America’s steel production decreased by 3.4 per cent compared with the November 2023 figures. Russia and other CIS nations saw their figures fall by a huge 7.8 per cent.

In its latest short-range outlook, worldsteel said steel demand will decrease to 1,751 mt in 2024 but climb to 1,772 mt in 2025.