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Global steel exports increased by 3.3% year-over-year in 2024, reaching 449.2 million tonnes. This growth reflects rising demand across key markets and a shift in global supply chains.
China led the surge, boosting its steel exports to 117.1 million tonnes—up sharply from 94.3 million tonnes in 2023. South Korea and the European Union also posted export gains, while Japan saw a slight decline. Turkey recorded a notable 33.8% increase, exporting 17 million tonnes.
On the import side, the EU remained the top destination, with steel imports rising to 42.8 million tonnes. The U.S., Turkey, and Italy followed, with varying trends.
Asia now accounts for nearly half of global steel exports, while Europe’s share has dropped to 27.8%. Among steel products, hot-rolled coils, galvanized sheets, and cold-rolled coils saw the strongest export growth. Semi-finished steel exports reached 54.6 million tonnes, continuing an upward trend.
Even as total steel production fell 1% to 1.76 billion tonnes, exports claimed a larger share of output—25.5% compared to 24% the previous year.
Also Read : China’s Iron Ore Output Falls 12.6% – Indian Miners Eye Export Gains China surged steel exports by 31% y/y in Q1
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