Business news from Ukraine

Business news from Ukraine

Ukrainian steelmakers increase steel production by 64.2% in September

25 October , 2023  

In September this year, Ukrainian steelmakers increased steel production by 64.2% year-on-year to 558 thousand tons from 340 thousand tons.

At the same time, Ukraine took 21st place in the ranking of 63 countries – the world’s major producers of this product, compiled by the World Steel Association (Worldsteel).

According to Worldsteel, in September 2023, steel production increased compared to September 2022 in half of the top ten countries, except for China, Japan, Brazil and Iran.

The top ten steel producing countries in September are as follows: China (82.110 million tons, down 5.6% by September 2022), India (11.632 million tons, up 18.2%), Japan (7.020 million tons, down 1.7%), the United States (6.718 million tons, up 2.6%), and the Russian Federation (6.2 million tons, up 9.8%), South Korea (5.456 million tons, up 18.2%), Germany (2.902 million tons, up 2.1%), Turkey (2.890 million tons, up 8.4%), Brazil (2.630 million tons, down 5.6%) and Iran (2.397 million tons, down 12.7%).

Overall, in September this year, steel production decreased by 1.5% year-on-year to 149.316 million tons.

In the first nine months of 2023, the top ten steel-producing countries are as follows: China (795.070 million tons, up 1.7%), India (104.090 million tons, up 11.6%), Japan (65.387 million tons, down 3.6%), the United States (60.566 million tons, down 1.4%), and the Russian Federation (57.148 million tons, up 4.8%), South Korea (50.430 million tons, minus 0.4%), Germany (27.231 million tons, minus 3.6%), Turkey (24.489 million tons, minus 10.1%), Brazil (23.965 million tons, down 8%) and Iran (22.069 million tons, minus 0.6%).

In total, 63 countries produced 1 billion 406.376 million tons of steel in January-September, up 0.1% compared to the same period in 2022.

At the same time, Ukraine produced 4.590 million tons of steel in the first nine months of 2023, which is 16.9% lower than in January-September 2022. The country ranks 23rd in the first nine months of 2023.

As reported, in 2022, the top ten steel-producing countries looked like this: China (1.013 billion tons, down 2.1%), India (124.720 million tons, up 5.5%), Japan (89.235 million tons, -7.4%), the United States (80.715 million tons, -5.9%), and the Russian Federation (71.5 million tons, -7.2%), South Korea (65.865 million tons, -6.5%), Germany (36.849 million tons, -8.4%), Turkey (35.134 million tons, -12.9%), Brazil (33.972 million tons, -5.8%) and Iran (30.593 million tons, +8%).

In 2022, Ukraine ranked 23rd with the production of 6.263 million tons of steel (minus 70.7%).

In total, 64 countries produced 1 billion 831.467 million tons of steel in 2022, which is 4.3% less than in 2021.