Global crude steel output amounts to 148.1M tons in January

(MENAFN) In January, global crude steel production amounted to 148.1 million tons, as reported by the World Steel Association (worldsteel) data released on Friday. Despite contributions from 71 reporting countries, there was a marginal 1.6 percent year-on-year decrease in overall crude steel production, as indicated by the data.

Among the world's leading steel producers, Iran notably experienced a substantial annual increase of 39.3 percent, reaching 2.6 million tons in 2023. Conversely, China, the foremost steel producer globally, witnessed a 6.9 percent decline in January, producing 77.2 million tons during the period.

India, ranked second in global steel production, recorded a noteworthy 7.3 percent annual growth, culminating in 12.5 million tons of steel output. Japan, occupying the third position, reported a modest 0.6 percent increase in steel production, amounting to 7.3 million tons.

On the other hand, the United States witnessed a slight 0.3 percent year-on-year decrease, producing 6.8 million tons of crude steel. Turkey, positioned as the world's seventh-largest crude steel producer, demonstrated significant growth in January, with a remarkable 24.7 percent annual surge in steel output, reaching 3.2 million tons during the period. These figures underscore the dynamic shifts and varied performance across key steel-producing nations, reflecting broader trends and market dynamics within the global steel industry.

MENAFN25022024000045015839ID1107896060