Steel Mills
Global steel production declined in April
Written by Brett Linton
May 22, 2024
Global steel output in April fell 3.1% from March’s 10-month high, according to the World Steel Association’s (worldsteel) latest data.
Steel mills around the world produced an estimated 155.7 million metric tons (mt) of steel last month. April production was 5.1% less than the same time one year prior. For reference, global production averaged 153.9 million mt per month last year and 152.4 million mt in 2022.
On a three-month moving average (3MMA) basis, production eased to 155.2 million mt through April, down 0.5% from March’s 7-month peak.
On a daily basis, April production averaged 5.19 million mt per day, 0.2% percent higher than March’s daily rate. This is now the highest daily production rate seen since last June when it was 5.35 million mt. Daily production was 5.1% lower than the same month one year ago.
Regional breakdown
The world’s top steel maker, China, produced 85.9 million mt last month, down 2.7% from March’s eight-month high. April production was down 7.2% year-on-year (y/y). For comparison, China produced an average of 84.4 million mt of steel per month in 2023, up from 84.1 million mt in 2022. Chinese production represented 55.2% of the world’s total output in April, up from 55.0% the month prior but down from 56.5% the same month last year.
Meanwhile, steel output in the rest of the world (ROW) decreased 3.5% from March to April. Production in these regions totaled 69.8 million mt for the month, down 2.2% y/y. Monthly production in the ROW averaged 69.4 million mt last year and 68.3 million mt the year prior.
Looking at production by country, Indian mills held the number two spot in April, producing 12.1 million mt of steel. Next up was Japan at 7.1 million mt, followed by the US at 6.7 million mt and Russia at 6.2 million mt.
Brett Linton
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