Global Crude Steel Production in 2024: Key Insights
The year 2024 ended with a total global crude steel production of 1,882.6 million metric tons, a 0.8% decrease compared to 2023, when production reached 1,897.9 million metric tons. Despite the overall decrease, there were significant shifts in production across various regions and countries, influenced by different economic and industrial factors. Some regions posted growth in steel production, while others saw declines, driven by various challenges, including domestic economic conditions, trade policies, and shifting demand.
Global Production by Region: Full-Year Breakdown
Here’s a detailed look at the 2024 crude steel production across different regions, including production totals and year-over-year changes:
1. Africa
• Production in December 2024: 1.9 million metric tons (down 1.0% YoY)
• Total 2024 Production: 22.3 million metric tons (up 1.0% YoY)
Countries in Africa: Algeria, Egypt, Libya, Morocco, South Africa, Tunisia.
2. Asia and Oceania
• Production in December 2024: 106.3 million metric tons (up 9.0% YoY)
• Total 2024 Production: 1,357.8 million metric tons t (down 1.0% YoY)
Countries in Asia and Oceania: China, India, Japan, South Korea, Taiwan (China), Vietnam, Indonesia, Pakistan, Bangladesh, Australia, and others.
3. European Union 27
• Production in December 2024: 9.6 million metric tons t (up 7.2% YoY)
• Total 2024 Production: 129.5 million metric tons (up 2.6% YoY)
Countries in the EU (27): Austria, Belgium, Bulgaria, Croatia, Czechia, Finland, France, Germany, Greece, Hungary, Italy, Luxembourg, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
4. Europe, Other
• Production in December 2024: 3.3 million metric tons (down 14.3% YoY)
• Total 2024 Production: 43.2 million metric tons (up 3.4% YoY)
Countries in Europe, Other: United Kingdom, Turkey, Norway, Macedonia, Serbia.
5. Middle East
• Production in December 2024: 4.6 million metric tons (down 4.5% YoY)
• Total 2024 Production: 54.1 million metric tons (up 0.5% YoY)
Countries in the Middle East: Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Yemen.
6. North America
• Production in December 2024: 8.8 million metric tons (down 4.3% YoY)
• Total 2024 Production: 105.9 million metric tons (down 4.2% YoY)
Countries in North America: United States, Canada, Mexico, Cuba, El Salvador, Guatemala.
7. Russia & Other CIS + Ukraine
• Production in December 2024: 6.8 million metric tons (down 6.8% YoY)
• Total 2024 Production: 84.8 million metric tons (down 4.2% YoY)
Countries in Russia & CIS + Ukraine: Russia, Ukraine, Belarus, Kazakhstan.
8. South America
• Production in December 2024: 3.1 million metric tons (down 3.8% YoY)
• Total 2024 Production: 41.9 million metric tons (up 0.6% YoY)
Countries in South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela.
Top 10 Steel-Producing Countries in 2024
In December 2024, China led global steel production with 76.0 million metric tons, marking an impressive 11.8% increase from December 2023. However, its total production for the year decreased by 1.7%, amounting to 1,005.1 million metric tons. India followed in second place with 13.6 million metric tons for December, reflecting a 9.5% growth from the previous year. Over the course of 2024, India’s production rose by 6.3%, reaching 149.6 million metric tons. In third place, Japan produced 6.9 million metric tons in December, down by 1.1%, with a total of 84.0 million metric tons for the year, which was a 3.4% decline. The United States produced 6.7 million metric tons in December, a decrease of 2.4%, contributing to a total of 79.5 million metric tons in 2024, also down by 2.4%.
In fifth place, Russia produced 5.7 million metric tons in December, an 8.6% decrease, and 70.7 million metric tons for the year, a 7.0% decline. South Korea saw a decrease in December as well, with 5.2 million metric tons, down 3.2%, bringing its total for the year to 63.5 million metric tons, which was 4.7% lower than in 2023. Germany posted positive growth with 2.7 million metric tons t in December, up by 4.1%, and 37.2 million metric tons for the year, reflecting a 5.2% increase. Turkey experienced a decline in December, producing 3.0 million metric tons, down 7.6%, but still ended the year with a 9.4% increase in total production, reaching 36.9 million metric tons.
Brazil produced 2.6 million metric tons in December, marking a 1.8% increase, with a total production of 33.7 million metric tons for 2024, up by 5.3%. Finally, Iran saw a drop of 8.2% in December, with 2.6 million metric tons, but its total production for the year increased by 0.8%, reaching 31.0 million metric tons.
Other Notable Producers in 2024
• Vietnam (e): 22.1 million metric tons (up 14.9% YoY)
• Italy: 20.0 million metric tons (down 5.0% YoY)
• Taiwan (China) (e): 19.1 million metric tons (down 0.3% YoY)
• Mexico (e): 13.7 million metric tons (down 16.5% YoY)
