Global Steel Production Decreased by 3.4% Year-on-Year in February

In February 2025, global steel production across 69 countries totaled 144.7 million tons, marking a 3.4% decline compared to the same month in 2024. This also represents a 4.4% decrease compared to January 2025, according to data from the World Steel Association.

The CIS region, including Ukraine, saw a 1.9% year-on-year drop in steel production, totaling 6.7 million tons for the month, a 4.3% month-on-month decrease. Ukraine's steel production fell by 7.5% year-on-year and 6.4% month-on-month, amounting to 571,800 tons.

The top ten steel-producing countries in February, according to the World Steel Association, were:

1. China – 78.9 million tons (-3.3% y/y)
2. India – 12.7 million tons (+6.3% y/y)
3. Japan – 6.4 million tons (-8.5% y/y)
4. USA – 6 million tons (-7% y/y)
5. Russia – 5.8 million tons (-3.4% y/y)
6. South Korea – 5.2 million tons (+0.7% y/y)
7. Turkey – 2.9 million tons (-5.6% y/y)
8. Germany – 2.7 million tons (-13.5% y/y)
9. Brazil – 2.7 million tons (-1.6% y/y)
10. Iran – 1.7 million tons (-21.8% y/y)

From January to February 2025, global steel production totaled 302 million tons, reflecting a 2.2% year-on-year decrease. In the CIS+Ukraine region, the total dropped by 0.7% year-on-year to 13.6 million tons. Over the first two months of the year, Ukraine produced 1.18 million tons of steel, marking a 9.9% increase compared to the same period in 2024.

For the full year of 2024, global steel production declined by 0.9% from 2023, reaching 1.839 billion tons. December 2024 saw production at 144.5 million tons, a 5.6% increase year-on-year, but a 1.6% decrease month-on-month.