In September 2024, the crude steel production for the 71 countries reporting to the World Steel Association was recorded at 143.6 million metric tons, marking a 4.7% decline compared to the same month in 2023. This notable decrease highlights the ongoing fluctuations in the steel market, driven by various economic factors and regional performances. The data encapsulates the output from nations that collectively accounted for approximately 98% of the global steel production in the previous year, showcasing the industry's pivotal role in the global economy.
Analyzing regional production, Africa displayed a positive trend, producing 1.9 million metric tons in September 2024, a 2.6% increase from the previous year. In contrast, Asia and Oceania faced a downturn, producing 105.3 million metric tons, which reflects a decline of 5.0%. The European Union managed a slight increase, generating 10.5 million metric tons, representing a modest rise of 0.3%. Meanwhile, Europe, Other countries produced 3.6 million metric tons, marking a 4.1% increase. The Middle East, however, experienced a sharp decline of 23.0%, producing 3.5 million metric tons. North America saw a decrease of 3.4% with 8.6 million metric tons, while Russia and other CIS countries, along with Ukraine, produced 6.8 million metric tons, reflecting a drop of 7.6%. In South America, production remained stable at 3.5 million metric tons, up by 3.3%.
Delving deeper into the numbers reveals the challenges faced by leading steel-producing nations. China, the world's largest producer, generated 77.1 million metric tons in September 2024, which represents a decline of 6.1%. India, the second-largest producer, showed resilience with an output of 11.7 million metric tons, down just 0.2%. Japan, however, faced challenges, producing 6.6 million metric tons, which reflects a significant decrease of 5.8%. The United States managed a slight increase, producing 6.7 million metric tons, up by 1.2%, while Russia's production plummeted by 10.3% to 5.6 million metric tons. South Korea experienced a modest rise, producing 5.5 million metric tons, while Germany and Türkiye showed improvements with outputs of 3.0 million metric tons and 3.1 million metric tons, respectively.
The production figures from September 2024 highlight the varied performance across different regions and countries. While some countries like Brazil reported a substantial increase of 9.9% in their production, Iran faced a drastic decrease of 41.2%. These fluctuations can be attributed to a range of factors, including economic conditions, supply chain disruptions, and changing demand in various sectors.
