Haihao Group focuses on the global steel market trends

At Haihao Group, we understand the importance of staying updated with the latest trends and data in the steel raw materials market. By sharing relevant industry information, we aim to keep our clients informed and help them make well-informed decisions. Here’s a summary of the latest global crude steel production data for May 2024, as reported by the World Steel Association (WSA).

PIPING PRODUCTS

Global Crude Steel Production in May 2024

In May 2024, global crude steel production increased by 1.5% compared to the same month last year. The 71 countries and regions included in the WSA statistics produced a total of 165.1 million tonnes of crude steel. For the period from January to May 2024, the total production was 793 million tonnes, marking a slight decrease of 0.1% compared to the same period in the previous year.

Regional Breakdown of Crude Steel Production

Africa: Produced 1.8 million tonnes, up by 0.9%.

Asia and Oceania: Produced 122.1 million tonnes, up by 1.6%.

European Union (27 countries): Produced 11.7 million tonnes, up by 1.8%.

Other European countries: Produced 3.9 million tonnes, up by 6.2%.

Middle East: Produced 5.2 million tonnes, up by 4.6%.

North America: Produced 9.4 million tonnes, down by 0.9%.

Russia and other CIS countries + Ukraine: Produced 7.7 million tonnes, up by 2.8%.

South America: Produced 3.3 million tonnes, down by 8.2%.

Top 10 Steel-Producing Countries

China: Produced 92.86 million tonnes, up by 2.7%.

India: Produced 12.2 million tonnes, up by 3.5%.

Japan: Produced 7.2 million tonnes, down by 6.3%.

United States: Produced 6.9 million tonnes, down by 1.5%.

Russia: Estimated production of 6.3 million tonnes, down by 0.9%.

South Korea: Produced 5.2 million tonnes, down by 10.9%.

Iran: Produced 3.3 million tonnes, up by 2.1%.

Germany: Produced 3.2 million tonnes, down by 1.9%.

Turkey: Produced 3.2 million tonnes, up by 11.6%.

Brazil: Estimated production of 2.6 million tonnes, down by 7.4%.

Global Pig Iron Production in May 2024

Carbon steel flanges and pipe fittings

For May 2024, the 37 countries and regions tracked for pig iron production produced a total of 111 million tonnes, which is a decrease of 1.6% year-on-year. The regional details are as follows:

EU (27 countries): Produced 5.8 million tonnes, up by 4.7%.

Other European countries: Produced 1.33 million tonnes, down by 4.8%.

Russia and other CIS countries + Ukraine: Produced 5.3 million tonnes, down by 4.9%.

North America: Estimated production of 2.21 million tonnes, down by 4.8%.

South America: Produced 2.32 million tonnes, down by 4.5%.

Asia: Produced 93.1 million tonnes (with China producing 72.66 million tonnes), down by 1.4%.

Oceania: Produced 0.28 million tonnes, down by 1.6%.

For the first five months of 2024, the global cumulative pig iron production was 533 million tonnes, showing a decrease of 2.6%.

Direct Reduced Iron (DRI) Production

In May 2024, the 13 countries reported by the WSA produced a total of 11.42 million tonnes of DRI, an increase of 9.8% year-on-year. Among these:

India: Produced 4.44 million tonnes, up by 4.4%.

Iran: Produced 3.86 million tonnes, up by 17.7%.

For the first five months of 2024, the cumulative production of DRI in these 13 countries was 50.81 million tonnes, representing an increase of 7.5%.

At Haihao Group, we recognize the critical role of timely and accurate market data in the steel industry. The recent data from the WSA reflects both growth and challenges in various regions, highlighting the dynamic nature of the global steel market. By staying informed and sharing these insights, we aim to support our clients in navigating the complexities of the steel market and making strategic decisions for their businesses.

We will continue to monitor market trends and provide updates to help our clients stay ahead in this ever-evolving industry.