"Decrease in Global Crude Steel Production in September: Causes and Consequences"

Global Crude Steel Production Declines in September

According to the data released by the World Steel Association (Worldsteel), global crude steel production decreased by 1.6 percent in September 2024, falling to 141.8 million tons.

Changes in Production in China, Japan, and the USA

The world's largest steel producer, China, experienced a significant decline in production in September. China’s crude steel production fell by 4.6 percent to 73.5 million tons. During the same period, Japan’s steel production also decreased by 3.7 percent, dropping to 6.4 million tons.

On the other hand, U.S. crude steel production showed positive performance, increasing by 6.7 percent to 6.9 million tons. India, meanwhile, boosted its production by 13.2 percent, rising to 13.6 million tons.

Production Trends in Brazil, Russia, and Germany

In September, Brazil’s crude steel production fell by 3.2 percent to 2.8 million tons, while production in Russia is estimated to have declined by 3.8 percent to 5.2 million tons. In Germany, steel production decreased by 0.6 percent, falling to 3 million tons.

On the other hand, Iran’s crude steel production showed remarkable growth, increasing by 6 percent to 2.3 million tons.

Turkey's Success in Steel Production

In September, Turkey’s crude steel production reached 3.2 million tons, an increase of 3.3 percent compared to the same period last year. In the January-September period of this year, Turkey’s crude steel production rose to 28.1 million tons, marking a 0.6 percent increase. In the first nine months of this year, Turkey has demonstrated a positive performance in steel production, enhancing its competitive strength in the international market.

Overall Situation in Global Production

Global crude steel production in the January-September period of 2023 decreased by 1.6 percent compared to the same period last year, falling to 1 billion 373.8 million tons. This situation highlights the impact of global economic conditions and demand fluctuations on the steel sector.