Global steel output up in November: Worldsteel

All told, world steel production stood at 145.5 million metric tons in November 2023, up 3.3% from November 2022.

China – by far the world’s largest steel producer – made 76.1 million tons of steel in November 2023, up 0.4% from November of last year. The United States produced 6.6 million tons last month, up 6.1% year over year (YoY). And EU mills made 10.6 million tons in November 2023, up 3.2% YoY.

Some of the biggest percentage gains in November were recorded by Turkey (3 million tons, up 25.4% YoY), Russia (6.4 million tons, up 12.5% YoY), South Korea (5.5 million tons, up 11.9% YoY), and India (11.7 million tons, up 11.4% YoY).

Partially offsetting those gains were declines in Germany, Europe’s largest steelmaking nation (2.7 million tons, down 2.4% YoY), and Japan (7.1 million tons, down 0.9%).

Jan.-Nov. ’23 vs. Jan.-Nov. ’22

Through 11 months of 2023, global steel output stood at nearly 1.72 billion tons, up 0.5% from the same period in 2022.

China accounts for the vast bulk of that tonnage (952.1 million tons, up 1.5% YoY), followed by India (128.2 million tons, up 12.1% YoY), and Japan (80 million tons, down 2.8% YoY).

The US was the world’s fourth-largest steel producing nation through the 11 months of 2023 (73.9 million tons, down 0.5% YoY).

Notable fact

China made more steel in November 2023 than the US made in 11 months this year.