World Steel Production Decreased To 1.691 Billion Tons Jan-Nov 2022 Compared To The Same Period In 2021

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 139.1 million tonnes (Mt) in November 2022, a 2.6% decrease compared to November 2021.

Africa produced 1.3 Mt in November 2022 compared to 11.4% on November 2021. Asia and Oceania produced 101.4 Mt, an increase of 2.7%. The EU (27) produced 10.5 Mt, a decrease of 17.9%. Europe, Other produced 3.2 Mt, down 25.1%. The Middle East produced 4.0 Mt, an increase of 11.6%. North America produced 8.9 Mt, a decrease of 6.3%. Russia & other CIS including the Ukraine produced 6.5 Mt, a decrease of 24.6%. South America produced 3.4 Mt, a decrease of 14.3%.

According to the World Steel Organization, global crude steel production decreased to 1.691 billion tons ( down 3.7%) in January-November 2022 compared to the same period in 2021. Annual steel demand is expected to contract by 2.3% owning to high energy prices, high inflation and rising interest rates globally. New infrastructure projects and a mild recovery in the real estate market is expected to boost steel demand in 2023. However, risks to the outlook remains on the downside with steel consumption only expected to rebound by 1% in 2023.

Below is the percentage change in crude steel production Jan-Nov 22 and Jan-Nov 21 for the Top 10 steel producing countries including major African steel producing countries.