Business news from Ukraine

Business news from Ukraine

Global steel production fell by 0.7% over nine months, to 1.37 bln metric tons

24 October , 2026  

Global steel production from January through September 2026 totaled 1 billion 367.493 million metric tons, down 0.7% compared to the same period in 2025.

According to the World Steel Association (Worldsteel), China retained its top spot in the global rankings, producing 724.77 million metric tons of steel over the nine-month period. However, the country’s production declined by 2.9% year-over-year.

India ranked second with 129.957 million metric tons, increasing output by 5.6%. The United States ranked third with 64.945 million metric tons, which is 5.8% more than in January–September 2025.

Russia produced 49.421 million metric tons of steel, a decrease of 3.6%, while South Korea produced 48.04 million metric tons, an increase of 2.9%. Turkey’s production rose by 6.1%, to 29.777 million metric tons, while Germany’s increased by 4%, to 26.529 million metric tons.

Against this backdrop, Ukrainian steelmakers reduced steel production by 19.8% over the nine-month period, to 4.431 million metric tons. Ukraine ranked 25th among steel-producing countries.

In September, global steel production decreased by 0.2% compared to the same month last year, to 142.4 million metric tons. Production in Ukraine for the month totaled 131,000 metric tons, compared to 611,000 metric tons in September 2025.

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