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The total amount of pig iron produced globally in March 2024 was 118.27 million tonnes, a 5% decrease from the same month in 2023. When compared to February, the number grew by 2.5%. Global pig iron production by the blast furnace method for the month amounted to 108.56 million tonnes (+1.8% m/m; -2.8% y/y), and by the direct reduction method – 9.71 million tonnes (+11.4% m/m; +16.7% y/y).
In January-March 2024, global pig iron production decreased by 0.8% compared to the same period in 2023 to 345.95 million tonnes. In particular, 317.86 million tonnes of pig iron were produced by the blast furnace method, and 28.09 million tonnes by the direct reduction method.
Ukraine produced 538 thousand tonnes of pig iron in March, up 8.6% month-on-month and 15.7% y/y. For 3 months, the figure amounted to 1.59 million tonnes (+32.1% y/y). Thus, the country ranks 15th in the ranking of global pig iron producers, ahead of France by 17 thousand tonnes.
As a reminder, in 2023, global pig iron production surged by 1.1% compared to 2022 to 1.41 billion tonnes. In 2023, 1.29 million tonnes were produced by the blast furnace method, and 120.15 million tonnes by the direct reduction method.
The top three countries for pig iron production in 2022: China – 871.01 million tonnes (+0.7% y/y), India – 135.07 million tonnes (+10.6% y/y), Japan – 63.04 million tonnes (-1.7% y/y). In 2023, Ukraine ranked 16th in the global pig iron production ranking with 6 million tonnes (-6.1% y/y).
Global steel production in 2023 fell by 0.1% compared to 2022 to 1.85 billion tonnes. The top three producing countries are: China – 1.019 billion tonnes (+0% y/y), India – 140.2 million tonnes (+11.8% y/y), Japan – 87 million tonnes (-2.5% y/y). Ukraine ranked 24th with 6.2 million tonnes (-0.6% y/y).
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