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Worldsteel reported crude steel production in China at 88.3 million metric tonnes in March, 7.8% lower than in March, 2023. Chinese production in the first three months of 2024 was 4.0% lower than in the same period last year.
Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) in March at 9.3 million tonnes, 29% higher than in March, 2023. Finished steel exports in Q1 2024 were 32% higher than in Q1 2023.
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Worldsteel published March, 2024 world crude steel production today. World crude steel output in March was 161.2 million metric tonnes, 4.3% lower than in March, 2023.
China produced 88.3 million tonnes in March, accounting for 55% of world output and declining 7.8% compared to March, 2023. Asian production outside China accounted for 19% of world output and rose 0.6% on last March, mainly due to a 7.8% increase in India and despite declines in South Korea (-9.5%) and Japan (-3.9%).
Other significant changes compared to last March include crude steel production increases in Turkey (+18.0%), and Germany (+8.4%).
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Based on reported import licenses, US long products imports increased 49% from 244,000 short tons in March, 2023 to 365,000 tons in March, 2024. Imports of every product category rose, but the largest volume increases came from parallel flange sections, wire rod, and rebar.
US long products imports in the first three months of 2024 were 6% higher than in the same period last year. This small percentage increase was mainly the result of higher wire rod and parallel flange sections imports, which were partially offset by a decline in rebar imports.
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Today The Green Steel Challenge podcast releases its 10th episode dedicated to steel industry decarbonisation with an outstanding interview with Anne-Marie Grossmann, Board Member at GMH Gruppe. The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel.
This particular podcast explores the challenges of decarbonising steelmaking where there is not enough green energy supply, and where government bureaucracy is slowing down investments in green energy (while at the same time funding large steelmakers who are replacing integrated plants with EAFs or electric smelters). Anne-Marie Grossmann also highlights how important it is to recruit talented, innovative people to overcome these barriers.
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Based on reported import licenses, US flat products imports rose 37% from 668,000 short tons in March, 2023 to 917,000 tons in March, 2024. The increase was mainly due to higher hot dip galvanized imports, which rose by almost 75% from many countries including Vietnam, South Africa, the United Arab Emirates, South Korea and Austria. Imports of all flat products categories rose compared to last March, with cold rolled imports +36%, cut plate imports +23%, and hot rolled imports +18%.
US flat products imports in the first three months of 2024 were 25% higher than in the same period last year. Of all flat product categories, hot dip galvanized imports rose by the highest volume between the first quarter of 2023 and the first quarter of 2024.
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