AK&M has released an industry bulletin on metallurgy with data for January–November

260
2
AK&M 22 January 2025 18:15

The 1606th issue of the bulletin "Branches of the Russian Economy: Manufacturing, Finance, Securities. Ferrous and non-ferrous metallurgy" of the AK&M News Agency.

Global steel production increased slightly in November 2024. According to the World Steel Association (WSA), 146.8 million tons of steel were smelted during this period, which is 0.8% higher than the same indicator in 2023 and 3.5% lower than the total in October 2024. In total, 1,694.6 million tons of steel were produced worldwide in the first eleven months of 2024, which is 1.4% lower than in the same period of 2023. Moreover, China's share in the total smelting volume remained at 55%. The average daily smelting in November decreased by 0.3% compared to October to 4.893 million tons.

In January–November 2024, Russia reduced steel production by 7% compared to a year earlier, to 64.9 million tons, retaining fifth place among metal—producing countries (according to the WSA). During this period, steel production in the United States decreased by 2.2% to 72.9 million tons, in China — by 2.7% to 929.2 million tons, in Japan — by 3.6% to 77.1 million tons, in South Korea — by 4.9% to 58.3 million tons. At the same time, India increased steel production by 5.9% to 135.9 million tons, Germany — by 5.3% to 34.5 million tons, Turkey — by 11.2% to 33.9 million tons, and Iran — by 0.5% to 28 million tons. According to the WSA, 5.5 million tons of steel were smelted in Russia in November, which is 9.2% less than a year earlier.

The re-election of President Donald Trump, who has unleashed trade wars in the steel and aluminum markets, could reignite the escalation of the conflict, which was somehow resolved by Joe Biden. For example, President Donald Trump told reporters at the executive order signing ceremony in the Oval Office that his administration would impose 25% tariffs on Mexico and Canada from February 1, 2025. Earlier, D. Trump proposed to introduce comprehensive and all-encompassing duties: up to 20% on imports from all countries, a 25% tax on goods from Mexico and Canada, and a 60% levy on goods from China.

In November, the index of production in the extraction of metal ores in Russia decreased by 0.6% compared to November 2023. The production of iron ore concentrate amounted to 7.3 million tons (+0.9%), while the production of lead concentrates increased by 27.3% during this period. The production of unprocessed or semi—processed gold, or in powder form, increased by 1.4% compared to November 2023, decreased by 13.2% compared to October 2024. The output of unprocessed or semi-processed silver in November 2024 decreased by 24.5% compared to the same period in 2023, and against the previous month - by 7.2%. 

This and many other topics are covered in issue No. 1606 of the monthly bulletin "Branches of the Russian Economy: Manufacturing, Finance, Securities. Ferrous and Non-ferrous Metallurgy" by the AK&M News Agency dated January 22, 2025.