2024 sees slight dip in global steel output, falling 0.9%

Steel production in 71 countries that report to the World Steel Association rose by 5.6 per cent year-on-year in December 2024, reaching 144.5 million tons.

The global steel output for the entire year of 2024 declined by 0.9 per cent, totaling 1.839 billion tons, Caliber.Az reports via Russian media.

According to preliminary data from the association, Russia's steel production in December decreased by 8.6 per cent year-on-year, reaching 5.7 million tons. For the entire previous year, the output dropped by 7 per cent, totaling 70.7 million tons.

Russian ferrous metallurgy companies produced 70.7 million tons of steel in 2024, a 7 per cent decline compared to the previous year. Throughout the year, the industry did not report any positive month-over-month growth. For instance, while production rose by 7 per cent in December compared to November, it still dropped by 3 per cent compared to December 2023. In August, production saw a significant 11.5 per cent decrease, reaching 5.8 million tons.

By Naila Huseynova