The World Steel Association reported that global crude steel production in November 2024 dropped to 146.8 million tons, down from 151.2 million tons in October, marking a return below the 150-million-ton threshold after just one month. However, the output still posted a modest 0.8% year-on-year increase.

According to data covering 71 countries, November’s crude steel production rose by 2.9% from the previous month and by 0.8% from the same month a year ago.

China, the world’s largest steel producer, accounted for 78.4 million tons in November, down from 81.9 million tons in October but reflecting a year-on-year 2.5% growth. The decline in China’s output contributed significantly to the month-on-month global production drop.

Analysts attributed the fluctuations to seasonal production adjustments, weaker demand, and efforts to balance supply amid ongoing economic uncertainties.