Global steel output drops below 2022 level

April world crude steel production in the 63 countries reporting to the Brussels-based World Steel Association (Worldsteel) dropped 2.4 percent compared with last April. Year to date, global output now has fallen 0.4 percent behind last year’s pace.

Worldsteel says the 161.4 million metric tons of production this April were led by China, which at 92.6 million metric tons of output represented more than 57 percent of the steel made globally.

Among the 10 largest steel-producing nations in April, only three made more steel than they had one year ago (and one of those just barely). China’s output rose 4.1 percent year on year, and India’s output rose 3 percent. Mills in Iran, meanwhile, were just above the breakeven point with a 0.1 percent increase.

Of the seven nations with production declines, Turkey’s was most severe, with a 21.3 percent drop. Turkey typically is the leading export destination for ferrous scrap leaving the United States. Steelmakers in Brazil made 8.8 percent less steel this April compared with last April, while output in Germany dropped 5.8 percent year on year.

Nations with less severe drops include Japan (-5.3 percent), the United States (-4.1 percent), Russia (-0.6 percent) and South Korea (-0.4 percent).

Despite the less-than-stellar April figures, in its most recent short-range outlook, Worldsteel has forecast a 2.3 percent rebound in global steel demand this year (though not necessarily output), followed by another 1.7 percent demand increase in 2024.