Global pig iron production fell by 3.7% m/m in June

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Global pig iron production fell by 3.7% m/m in June

Ferrous 25 Jul 2024 10:48 AM IST GMK Centre

Global pig iron output in June 2024 declined 3.7% from the previous month to 119.44 million tonnes (MT). The figure fell by 1.9% compared to June 2023, according to the World Steel Association. The global blast furnace method produced 108.61 MT of pig iron for the month, while the direct reduction process produced 10.83 MT.

Global pig iron production fell to 704.01 MT in January–June 2024, a 1.8% reduction from the same period in 2023. Specifically, the blast furnace process generated 642.4 MT of pig iron, while the direct reduction method produced 61.64 MT.

China 435.62 MT, India 70.36 MT, Japan 30.65 MT, Russian Federation MT, and South Korea - 21.45 MT were the largest pig iron manufacturing countries from January to June. In June, Ukraine produced 629 thousand tonnes of pig iron, down 3.8% month-on-month and 29.4% y/y. For 6 months, the figure amounted to 3.47 million tonnes.

Thus, the country ranks 13th among global pig iron producers. As a reminder, global pig iron production increased by 1.1% to 1.41 billion tonnes in 2023 compared to 2022. In 2023, 1.29 billion tonnes were produced by the blast furnace method and 120.15 MT by the direct reduction method.

The top three countries for pig iron production in 2022: China – 871.01 MT, India – 135.07 MT, Japan – 63.04 MT. In 2023, Ukraine ranked 16th in the global pig iron production ranking with 6 MT. Global steel production in 2023 decreased by 0.1% compared to 2022 to 1.85 billion tons. The top three producing countries are China 1.019 billion tonnes, India 140.2 MT, and Japan 87 MT. Ukraine ranked 24th with 6.2 MT.

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Global pig iron production fell by 3.7% m/m in June

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