Steel production in Asian countries fell to the lowest level in 3 years due to the decrease in demand. Despite that China continues to lead in production and consumption on a global scale.
World crude steel production remained low compared to the previous year due to the economic slowdown, especially in the USA and Europe.
Production decreased from 1 billion 962 million tons in 2021 to 1 billion 885 million tons in 2022.
However, in the mid-year data of 2023, it was seen that the top three in the list of the ten countries producing the most of the steel in the first half sre Asian countries. China, India and Japan continue keeping the lead according to the numbers.
China manages to maintain its top position in both production and consumption. China, the world's second largest economy, produces 54% of the world's total steel.
European Union follows that with 7.2% and India with 6.6%.
Plus, China also consumes more than 51% of the steel the world produced last year.
In terms of steel consumption per capita in 2022, South Korea tops the list with 928 kg, followed by Taiwan with 728 kg and China with 646 kg.
Per capita steel consumption of the USA, the world's largest economy, decreased by 10 kg to 279 kg in 2022, and India's increased by 6 kg to 81 kg.
2023 figures in production
China produced 90.8 Mt in July 2023, up 11.5% from July 2022. India produced 11.5 Mt, an increase of 14.3%. Japan produced 7.4 million tons, with an increase of 0.9%. The United States produced 6.9 million tons, an increase of 0.5%. It is estimated that Russia produced 6.3 million tons with an increase of 5.8%. South Korea produced 5.7 million tons, with a decrease of 9.0%.
On the other hand, globally, Germany produced 3.0 million tons with a 0.5% decrease, while Turkey reached 2.9 million tons with a 6.4% increase. Brazil, on the other hand, achieved a production of 2.7 million tons, with a decrease of 4.7%, and in Iran, the figures showed a production of 2.0 million tons, with a decrease of 1.5%.
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