The World Steel Association released its global steel production data for the first eight months of the year, spanning January through August. The statistics reveal 1,256.4 million tons of steel were manufactured worldwide during this timeframe. This production volume registered a modest increase of 0.2% when compared to the corresponding period in the previous year.
In the eighth month of 2023, specifically August, the global steel industry experienced the production of 152.6 million tons of steel. This marked a notable surge, with a 2.2% upswing compared to the same month in the prior year.
Iran's steel, produced one million and 600 thousand tons of semi finished products in August. However, this figure reflected a decline of 24.1% compared to August of the preceding year. This dip in production could be attributed to temporary power outages affecting steel plants during the summer months. Despite this setback, Iran managed to maintain its standing as the 10th largest steel producer globally in August.
Examining the global steel production for the first eight months of the year, it becomes evident that many of the top 10 steel-producing nations experienced negative growth in production compared to the same period in the previous year. Remarkably, only China, India, Russia, and Iran bucked this trend, achieving positive growth in their annual steel production figures.