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Third straight decline in global steel production

Weak demand, with inflation and rising interest rates affecting industrial and construction activities, continue to shape outcomes for steelmakers around the world, particularly in the US, Europe and Japan.

Third straight decline in global steel production

The top nine steel producing countries reported lower tonnage than in October, but US and European producers are significantly behind their November annual results.

With 11 months of production for 2022, total global crude steel production for the January-November period stands at 1,691.40 million tons, which is -3.7% lower than the comparable figure for January-November 2021.

Steelmakers in most regions of the world have been adjusting their production levels since 2021 to adapt to worsening conditions.

From October to November, Chinese steelmakers produced 74.5 million tons of crude steel, reducing their monthly production by -7.1. During the 11-month operating period for 2022, the Chinese industry produced 935.1 million tons of crude steel, down -1.4% from last year's 11-month total.


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