Crude steel production across 71 countries totaled 148.1 million tonnes in January, down 1.6% against the same period last year, showed data from the World Steel Association (Worldsteel).

The breakdown by regions reveals a diverse trend. Africa witnessed a 16.3% surge last month, reaching 2.0 million tonnes. In contrast, Asia and Oceania experienced a 3.6% decline, totaling 107.6 million tonnes.

The European Union (27 countries) saw a 1.8% fall last month, totaling 10.2 million tonnes, while other European countries produced 3.9 million tonnes, a 22.5% rise.  

The Middle East exhibited a 23.1% rise, reaching 4.7 million tonnes, while Russia and other CIS countries and Ukraine, collectively produced 7.2 million tonnes, a 4.0% growth.

Outputs in North and South America fell 2.1% and 6.3%, respectively.

In terms of country, China remained the top producer, with the Worldsteel estimating its January output at 77.2 million tonnes, 52% of the world's total. However, the figure marked a 6.9% fall compared with January 2023.

India ranked second with a production of 12.5 million tonnes in January, a 7.3% rise, and Japan the third, 7.3 million tonnes, a 0.6% rise.

The output decline in China, the world's top steelmaker, sharply contrasts with the longstanding narrative of continuous expansion in recent decades. This mainly came as the persistent weakness in the real estate sector blunted steel demand. The country's commitment to the green transition also contributed to the reduction.

In contrast, India's steel sector witnessed robust growth, recording a 7.3% increase, reaching 12.5 million tonnes.

However, the Worldsteel projected a mild growth of 1.9% in global steel demand this year, reaching 1.85 million tonnes. This hints at the underlying resilience of the steel industry, promising a rebound amidst prevailing headwinds.

(Writing by Alex Guo  Editing by Harry Huo)
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