Global steel production rose to 151.4 million metric tons during January, an increase of 4.6% from December 2024, and yet -4.4% less than the result for January 2024. It was the highest monthly output since October, and only the second month-over-month improvement since July.
Whether the upturn from December represents a trend is difficult to assess as that month frequently reflects holiday downtimes. But the same is true for January results from China, such that producers there – who represent roughly half of the world’s raw-steel capacity – are sometimes slow to finalize their January results.
The estimated rise in China’s January output contrasts with the flat or lower results from several of the largest steelmaking nations.
The World Steel Association reports monthly summaries for raw steel production regionally and in 69 nations. The figures document carbon steel produced in basic-oxygen or electric arc furnaces and cast into semi-finished forms like billets for bar and rod products; slabs for flat products; or blooms, for beam and pipe products. Specialty and stainless steel volumes are not included.
In an October forecast, World Steel predicted 2024 global steel consumption would total at 1.75 billion, principally due to weak demand from industrial and construction sectors – making it the third consecutive year of declining demand for steel. That forecast also predicted that 2025 global steel consumption will grow just 1.2% year-over-year.
For January, the estimated for China’s raw-steel output is 81.9 million metric tons, once again more half of the steel produced worldwide during the month. That figure indicates a 7.2% improvement over the December total, but -5.6% less than the January 2024 output.
Indian steel production during January totaled 13.6 million metric tons, even with the December total and 6.8% more than January 2024 result.
Japanese steelmakers reported 6.8 million metric tons produced during January, -1.5% less than in December and -6.6% less than in January 2024.
The U.S. steel industry produces 6.6 million metric tons (0 million short tons) during January, a -1.5% decrease from December but a 1.2% improvement over the January 2024 tonnage.
Russian steelmakers’ January output was 6.0 million metric tons, 5.0% more than in December but slightly less (-0.6%) than the January 2024 total.
