Dip in January crude steel production

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) in January 2024 was 148.1 million tonnes (Mt), 1.6% down compared to January 2023.

China is estimated to have produced 77.2 Mt in January 2024, down 6.9% on January 2023. Of the other leading manufacturing countries, India produced 12.5 Mt (up 7.3%); Japan 7.3 Mt (up 0.6%); the United States 6.8 Mt (down 0.3%); Russia is estimated at 6.2 Mt (up 1.2%); South Korea 5.7 Mt (up 1.5%); Turkey 3.2 Mt (up 24.7%); Germany estimated at 2.9 Mt (down 0.9%); Iran 2.6 Mt (up 39.3%); and Brazil at 2.5 Mt (down 7.2%).

The 71 countries included in worldsteel’s data accounted for around 98% of total world crude steel production in 2023.