Global trade in steel (rolled products and semi–finished products), submitted to the World Steel Association WorldSteel, increased by 3.3% in 2024 compared to 2023, to 449.2 million tons. This indicates a gradual recovery in international economic activity and steady demand for steel products in various sectors, in particular infrastructure, construction and mechanical engineering.
China holds the undisputed leadership among exporters, having increased the volume of supplies to 117.1 million tons. This is the highest figure among all countries and a significant increase compared to 2023 (94.3 million tons). China is followed by Japan with 31.2 million tons (-3.1% YoY), and South Korea with 28 million tons (+3.7% yoy). The EU increased supplies of steel products last year. by 6.9% YoY, to 27.8 million tons. Turkey has also significantly strengthened its position in the global market, exporting 17 million tons of steel (+33.8% YoY).
The European Union is the leader among the main importers, importing 42.8 million tons of steel (+9.2% YoY). The United States ranks second with 27.3 million tons (+3.4% YoY), followed by Turkey with 19.7 million tons (+9.4% YoY) and Italy with 18.5 million tons (-1.1% YoY).
At the same time, the geography of trade flows is also changing. The share of Asian countries in global exports has grown, while European producers are losing ground. Asia's share in total exports is over 48%, while Europe's is 27.8%.
There is also a noticeable trend towards an increase in trade in semi-finished products. In particular, global exports of semi–finished products reached 54.6 million tons in 2024, compared with 53.1 million tons in 2023 and 44.6 million tons in 2022. Among the most exported types of metal products are also:
hot–rolled sheets and rolls - 82 million tons (+7.9% YoY);galvanized sheet – 43.2 million tons (+5.4% YoY);thick–rolled products - 35.5 million tons (+2.6% YoY);steel pipes and fittings – 37.2 million tons (+1.9% YoY);cold–rolled sheets and rolls - 31.9 million tons (+6% YoY).Global steel production in 2024 amounted to 1.76 billion tons, which is 1% less than in 2015. The share of exports in total production reached 25.5%, compared with 24% in 2023.
