(MENAFN) According to the World Steel Association (worldsteel), worldwide crude steel production for the 63 reporting countries reached 161.4 million tons in April 2023. This figure reflects a 2.4 percent decrease compared to April 2022. In its report, worldsteel, the international trade body for the iron and steel industry headquartered in Brussels, identified the top 10 steel-producing countries in the first four months of 2023 as the UK, Türkiye, India, China, Russia, Brazil, Germany, Iran, South Korea, and Japan.
China, the largest steel producer globally, recorded a steel production of 92.6 million tons in April 2023, representing a 1.5 percent decline compared to the same month last year. Meanwhile, Japan produced 7.2 million tons of steel, marking a 3.1 percent decrease, and the US produced 6.6 million tons, experiencing a 5.3 percent decline during the same period.
Türkiye's steel production in April 2023 stood at 2.7 million tons, reflecting a significant 20.6 percent decrease compared to April 2022. Germany, another key steel producer, recorded a production of 3.2 million tons, showing a 3.8 percent decline, as reported by worldsteel.
In the January-April 2023 period, global crude steel production reached 622.7 million tons, representing a modest 0.3 percent decrease compared to the same period last year, according to worldsteel. It is worth noting that the 63 countries included in the report accounted for nearly 97 percent of the total world crude steel production in 2022.
The decline in global crude steel production in April 2023 highlights the challenges faced by the steel industry. Factors such as global economic conditions, supply chain disruptions, and fluctuations in demand can impact steel production levels. Despite the overall decrease, China remains the dominant player in the steel market, followed by other major steel-producing countries like Japan, the US, and Germany. The industry will continue to monitor these trends closely and adapt to changing market dynamics to ensure a stable and sustainable steel production landscape.
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