Worldsteel reported crude steel production in China at 91.6 million metric tonnes in June, 0.2% higher than in June, 2023. Chinese production in the first six months of 2024 was 2.7% lower than in the same period last year.
China’s General Administration of Customs reports net finished steel exports (exports minus imports) in June at 8.2 million tonnes, 18% higher than in June, 2023. Finished steel exports in the first six months of 2024 were 24% higher than in the first six months of 2023.
China monthly crude steel production
January, 2010 to June, 2024
Thousand metric tonnes
Lupu Bridge at 2010 Shanghai Expo from Denmark Pavillion by Dingyuang, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0>, da Wikimedia Commons
China produced 91.6 million metric tonnes in June, accounting for 57% of world output and rising 0.2% compared to June, 2023. Asian output outside of China, which now accounts for 18% of world output, rose 0.3% on last June due to increasing production in India (+6.0%), which was offset by declines in Japan (-4.2%) and South Korea (-7.2%).
North American production fell by 1.9% on last June following a 1.5% drop in the US. European Union 27 output rose 5.1% with German production up 8.9%.
Casting and cutting steel bars at TenarisTamsa, Mexico, from Worldsteel Image Library
Based on reported import licenses, US long products imports fell 29% from 401,000 short tons in June, 2023 to 286,000 tons in June, 2024. The decline was mainly due to lower rebar imports from Algeria, Egypt, Turkey and Mexico. In contrast, parallel flange sections imports rose significantly from Spain and the United Arab Emirates.
US long products imports in the first six months of 2024 were 4% higher than in the same period last year with a decline in rebar imports (-24%) offsetting a rise in wire rod imports (+31%) and parallel flange imports (+38%).
US long products import licenses
January 2018 to June 2024
Short tons
Positioned post-tensioning cables by Shakespeare at English Wikipedia, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
Based on reported import licenses, US flat products imports fell 7% from 769,000 short tons in June, 2023 to 717,000 tons in June, 2024. The decline was mainly due to lower hot rolled imports from South Korea, which was partially offset by higher hot dip galvanized imports from Vietnam, the United Arab Emirates, Brazil and South Korea.
US flat products imports in the first six months of 2024 were 18% higher than in the same period last year with hot dip galvanized +43%, cold rolled +30%, cut plate +8%, and hot rolled -1%.
US flat products import licenses
January 2016 to June 2024
Short tons
Sheet steel being rolled at HBIS Tangsteel from Worldsteel Image Library
What are some of the lessons learned in Season 1 interviews with leaders such as Arvedi’s Mario Arvedi Caldonazzo and Salzgitter’s Gunnar Groebler? Energy is key to the future of steel decarbonization in Europe. Italy’s innovative steel companies could be the engine of change in Europe. There are 1,400 blast furnaces around the world, and optimization of these furnaces can lower their carbon emissions by 25%.
Season 2 will start up after the summer break including interviews with leaders of the Volvo Group, BioCarbon, SA Recycling and Nucor.
Worldsteel reported crude steel production in China at 92.9 million metric tonnes in May, 2.7% higher than in May, 2023. Chinese production in the first five months of 2024 was 3.3% 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 May at 9.0 million tonnes, 16% higher than in May, 2023. Finished steel exports in the first five months of 2024 were 25% higher than in the first five months of 2023.
China monthly crude steel production, January, 2010 to May, 2024
Positioned post-tensioning cables by Shakespeare at English Wikipedia, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
