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World Steel: Steel production in the world grew 7.8% as of September

Steel production in the world registered a rise of 7.8% year-on-year from January to September 2021, to 1 trillion 461,200 million tons, reported the World Steel Association.

The 64 countries included in this indicator accounted for approximately 98% of global crude steel production in 2020.

Currently, world steel production capacity significantly exceeds world demand for steel, negatively affecting steel prices.

Global overcapacity continues to result in high levels of subsidized and dumped steel imports in the markets we serve.

While steel consumption is highly cyclical and generally follows economic and industrial conditions both globally and in regional markets, price fluctuations are affected by the timing, magnitude and duration of these cycles.

Regions and countries covered:

  • Africa: Egypt, Libya, South Africa.
  • Asia and Oceania: Australia, China, India, Japan, New Zealand, Pakistan, South Korea, Taiwan (China), Vietnam.
  • CIS: Belarus, Kazakhstan, Moldova, Russia, Ukraine, Uzbekistan.
  • European Union (27).
  • Europe, others: Bosnia-Herzegovina, Macedonia, Norway, Serbia, Turkey, United Kingdom.
  • Middle East: Iran, Qatar, Saudi Arabia, United Arab Emirates.
  • North America: Canada, Cuba, El Salvador, Guatemala, Mexico, United States.
  • South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela.

World Steel

Only compared to September of the current year, China produced 73.8 million tons (Mt), 21.2% less than in September 2020.

For its part, India produced 9.5 Mt, 7.2% more, while Japan produced 8.1 Mt, 25.6% more.

At the same time, the United States produced 7.3 Mt, 22.0% more.

The World Steel Association is one of the largest and most dynamic industrial associations in the world, with members in all major steel-producing countries.

World Steel represents steel producers, national and regional steel industry associations and steel research institutes. Members represent around 85% of world steel production.

 

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