The global raw steel production decreased by 4.7% to 143.7 million tons in September compared to the same period last year, with a 6.1% drop in production in China.

The World Steel Association, based in Brussels, announced the raw steel production data for September. Accordingly, global raw steel production decreased by 4.7% to 143.7 million tons last month compared to the same period in 2023. The noticeable decrease was observed in the production of China, the world’s largest steel producer, with a 6.1% decrease to 77.1 million tons. Japan’s production also decreased by 5.8% to 6.6 million tons. Raw steel production in the US increased by 1.1% to 6.7 million tons, while in Germany it rose by 4.4% to 3.1 million tons. In September, Brazil’s raw steel production increased by 9.9% to 2.8 million tons, while it was estimated that Russia’s production decreased by 10.3% to 5.6 million tons. During this period, India’s production decreased by 0.2% to 11.7 million tons, and Iran’s steel production decreased by 41.2% to 1.5 million tons.

6.5% INCREASE IN TURKEY

According to the association’s data, Turkey’s raw steel production increased by 6.5% to 3.1 million tons in September compared to the same period last year. It was remarkable that Turkey’s raw steel production reached 27.9 million tons, representing a 13.8% increase in the January-September period of the year. As a result, global raw steel production decreased by 1.9% to 1,394 million tons in the same period of this year compared to the same period last year. The World Steel Association had updated the expected growth in global steel demand from the previously announced 1.7% annual growth to a 0.9% decrease, estimating that the demand would decrease to 1,751 million tons on October 14.