South Korea's crude steel production decreased in July

South Korea's crude steel production increased by 7.84% in July 2024 compared to June, but decreased by 3.4% y-o-y to 5.5 million tons, according to SteelRadar's data from the World Steel Association (Worldsteel). The country ranked sixth in crude steel production in July.

South Korea's total crude steel production in the January-July 2024 period reached 37.1 million tons, down by 5.9% from the same period last year. This rate indicated that South Korea had the highest y-o-y decline among the ten countries on the list.

South Korea's flat steel production decreased by 5.2% y-o-y to around 6.4 million tons in the January-July 2024 period. In contrast, production figures for July were more positive. South Korea produced around 975,000 tons of flat steel during the month, up 12.7% from June 2024 and 0.5% from July 2023. The figure reached in July was the highest in 2024.