Worldsteel reported crude steel production in China at 82.9 million metric tonnes in July, 9.0% lower than in July, 2023. Chinese production in the first seven months of 2024 was 3.6% lower than in the same period last year.
China’s General Administration of Customs reports net finished steel exports (exports minus imports) in July at 7.3 million tonnes, 21% higher than in July, 2023. Finished steel exports in the first seven months of 2024 were 24% higher than in the first seven months of 2023.
China monthly crude steel production
January, 2010 to July, 2024
Thousand metric tonnes
Changshou Yangtze River Bridge construction, 2007, by Scott Weston from Stourbridge, West Midlands, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
China produced 82.9 million tonnes in July, accounting for 54% of world output and falling 9.0% compared to July, 2023. Asia and Oceania output outside of China, which now accounts for 20% of world output, rose 1.7% on last July due to increasing production in India (+6.8%), which was offset by declines in Japan (-3.8%) and South Korea (-3.4%).
North American production fell by 2.4% on last July, though US output rose 2.1%. European Union production rose 5.7% with Germany output up 4.8%. Other significant changes year-on-year include a 11.6% increase in Brazil and a 18.7% decline in Iran.
Twin wagon tipper tipping raw materials onto conveyor belts for transport and processing at Tata Steel Limited, Kalinganagar, India from Worldsteel Image Library
Based on reported import licenses, US long products imports fell 10% from 359,000 short ton in July, 2023, to 321,000 tons in July, 2024. The decline was mainly due to lower rebar imports from Egypt, Algeria, Mexico and Spain. Wire rod imports rose, however, following higher volumes from Algeria.
US long products imports in the first seven months of 2024 were 1% lower than in the same period last year with a decline in rebar imports (-31%) offsetting an increase in wire rod imports (+31%) and parallel flange sections imports (+24%).
US long products import licenses
January 2018 to July 2024
Short tons
Installing rebar for the walls and base slab for the final tunnel approach structure currently being built in Harold Interlocking by MTA Capital Construction Mega Projects, 2018, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons
Based on reported import licenses, US flat products imports rose 16% from 652,000 short tons in July, 2023 to 753,000 tons in July, 2024. The increase was mainly due to higher hot dip galvanized imports from a number of countries including Brazil, South Korea, and Vietnam.
US flat products imports in the first seven months of 2024 were also 16% higher than in the same period last year with hot dip galvanized +42%, cold rolled +26%, cut plate +10%, and hot rolled -2%.
Worldsteel reported crude steel production in China at 91.6 million metric tonnes in June, 0.2% higher than in June, 2023. Chinese production in the first six months of 2024 was 2.7% lower than in the same period last year.
China’s General Administration of Customs reports net finished steel exports (exports minus imports) in June at 8.2 million tonnes, 18% higher than in June, 2023. Finished steel exports in the first six months of 2024 were 24% higher than in the first six months of 2023.
China monthly crude steel production
January, 2010 to June, 2024
Thousand metric tonnes
Lupu Bridge at 2010 Shanghai Expo from Denmark Pavillion by Dingyuang, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0>, da Wikimedia Commons
China produced 91.6 million metric tonnes in June, accounting for 57% of world output and rising 0.2% compared to June, 2023. Asian output outside of China, which now accounts for 18% of world output, rose 0.3% on last June due to increasing production in India (+6.0%), which was offset by declines in Japan (-4.2%) and South Korea (-7.2%).
North American production fell by 1.9% on last June following a 1.5% drop in the US. European Union 27 output rose 5.1% with German production up 8.9%.
Casting and cutting steel bars at TenarisTamsa, Mexico, from Worldsteel Image Library
