Crude steel output - worldwide 2010-2019

Global crude steel output from 2010 to 2019 (in million metric tons)

by Statista Research Department, last edited Jun 5, 2019

Crude steel output - worldwide 2010-2019

Global crude steel production is expected to have reached almost 1.7 billion metric tons by 2017 and remain at this level in the following years. Apart from being produced by raw materials, steel may be recycled and many countries import scraps in order to do so. Over 60 percent of the worlds scrap steel becomes recycled.
Steel set to grow in all markets

Output of crude steel had exploded from 2004 to 2014, reaching 1.67 billion metric tons before stagnating. Since 2016, however, production had increased again and it is estimated to stay on good ground. This aligns with estimates of global steel consumption, which is expected to continue to increase through 2021. Steel is one of the most commonly used metals across the globe. This is due to its key role in civil engineering construction and major appliances fabrication, which utilize the alloy’s strength and durability. Steel also plays an important role in discrete manufacturing - from surgical instruments to wristwatches.

Worldwide production has increased incredibly over the last decade, and this has a lot to do with China’s immense productivity. This country produced almost half of the world’s crude steel in 2016 and exported a staggering 108 million tons in the same year. To put that into perspective, Canada, Mexico, and the U.S. accounted for 6.8 percent of global production combined. Increased production of steel may be vital in the coming years as economies around the globe increase their demand for the resource. Global consumption is expected to grow somewhat significantly by 36 million tons from 2019 to 2021 and, as the largest consumer of steel, China will be a major part of that growth.

However, production and consumption in China is expected to stagnate. Concurrently, steel manufacturers in the United States have been picking up serious pace. Following the 25 percent tariffs on steel imported from certain countries, the cost of steel in the United States had immediately risen, and domestic production became more profitable. The largest steel producer in the United States, Nucor, saw its sales increase from 16.2 billion U.S. dollars to nearly 20.3 billion in the same period.

Global crude steel output from 2010 to 2019 (in million metric tons)

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by Statista Research Department, last edited Jun 5, 2019

Global crude steel production is expected to have reached almost 1.7 billion metric tons by 2017 and remain at this level in the following years. Apart from being produced by raw materials, steel may be recycled and many countries import scraps in order to do so. Over 60 percent of the worlds scrap steel becomes recycled.
Steel set to grow in all markets

Output of crude steel had exploded from 2004 to 2014, reaching 1.67 billion metric tons before stagnating. Since 2016, however, production had increased again and it is estimated to stay on good ground. This aligns with estimates of global steel consumption, which is expected to continue to increase through 2021. Steel is one of the most commonly used metals across the globe. This is due to its key role in civil engineering construction and major appliances fabrication, which utilize the alloy’s strength and durability. Steel also plays an important role in discrete manufacturing - from surgical instruments to wristwatches.

Worldwide production has increased incredibly over the last decade, and this has a lot to do with China’s immense productivity. This country produced almost half of the world’s crude steel in 2016 and exported a staggering 108 million tons in the same year. To put that into perspective, Canada, Mexico, and the U.S. accounted for 6.8 percent of global production combined. Increased production of steel may be vital in the coming years as economies around the globe increase their demand for the resource. Global consumption is expected to grow somewhat significantly by 36 million tons from 2019 to 2021 and, as the largest consumer of steel, China will be a major part of that growth.

However, production and consumption in China is expected to stagnate. Concurrently, steel manufacturers in the United States have been picking up serious pace. Following the 25 percent tariffs on steel imported from certain countries, the cost of steel in the United States had immediately risen, and domestic production became more profitable. The largest steel producer in the United States, Nucor, saw its sales increase from 16.2 billion U.S. dollars to nearly 20.3 billion in the same period.