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Worldsteel reported crude steel production in China at 81.2 million metric tonnes in February, 3.5% higher than in February, 2023. Chinese production in the first two months of 2024 was 1.8% lower than in the same period last year.
Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) for January and February, 2024 at 14.8 million tonnes, 35% higher than in the same two months of 2023.
China produced 81.2 million tonnes in February, accounting for 55% of world output and rising 3.5% compared to February, 2023. World crude steel production outside of China rose 3.9% on last February. Significant increases outside China came from India (+11.4%), Turkey (+46.6%), Brazil (+13.1%) and Iran (+14.3%).
Crude steel production in the first two months of 2024 was approximately 3% higher than in the same period last year.
Based on reported import licenses, US long products imports fell 15% from 332,000 short tons in February 2023 to 281,000 tons in February 2024 (despite February 2024 having 1 more day). The decline was mainly due to lower rebar imports from Turkey and Algeria.
US long products imports in the first two months of 2024 were 16% lower than in the same period last year. This was mainly due to lower volumes of rebar imports (-42%) and All Other Structural Shapes imports (-30%).
Based on reported import licenses, US flat products imports rose 27% from 548,000 short tons in February, 2023 to 697,000 tons in February, 2024. The increase was mainly due to higher hot dip galvanized imports from Canada, South Africa, Vietnam, Austria and the UAE. Cold rolled imports also rose significantly from Australia and Canada.
US flat products imports in the first two months of 2024 were 22% higher than in the same period last year. Imports of all product categories rose, though the highest volume increases came from hot dip galvanized (+27%) and cold rolled (+28%).
China produced 77.2 million tonnes in January, accounting for 52% of world output and falling 6.9% compared to January, 2023. In other parts of Asia, Indian crude steel production rose 7.3% on last January, Japanese output rose 0.6%, as did South Korean output by 1.5%.
European Union crude steel production fell 1.8% on last January following a 0.9% decline in Germany. North American output fell 2.1% with US output down 0.3%. Other significant changes compared to last January include a 24.7% rise in Turkey and a 39.3% increase in Iran.
André Bier Gerdau Johannpeter discusses how Gerdau is organizing itself to lower steelmaking emissions in Episode 6 of The Green Steel Challenge, just released. The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel. While past episodes have focused on other […]