In March 2025, global steel production increased again. According to the World Steel Association (WSA), 166.1 million tons of steel were smelted during this period, which is 2.9% higher than the same indicator in 2024 and 14.8% higher than the total in February 2025.
This is stated in issue No. 1621 of the monthly bulletin "Branches of the Russian Economy: manufacturing, finance, securities. Ferrous and non-ferrous metallurgy" of the AK&M News Agency.
In total, 468.6 million tons of steel were produced worldwide in January-March 2025, which is 0.4% lower than in the same period of 2024. Moreover, China's share in the total smelting volume remained at 55%. Average daily steel production in March increased by 3.7% compared to February and reached 5,358 million tons.
In January-March 2025, Russia reduced steel production by 3.8% compared to a year earlier to 17.7 million tons, retaining fifth place among metal—producing countries (according to the WSA). During this period, steel production in the United States decreased by 0.6% to 19.7 million tons, in Japan — by 4.9% to 20.4 million tons, in South Korea — by 3.6% to 15.5 million tons. Germany also reduced smelting by 12.6% to 8.5 million tons, Turkey by 3.4% to 9.3 million tons, and Iran by 12.8% to 7.3 million tons. At the same time, China increased steel production by 0.6% to 2,596.3 million tons, India — by 6.8% to 40.1 million tons. According to the WSA, 6.2 million tons of steel were smelted in Russia in March, which is 3.2% less than a year earlier.
On March 12, a new version of the 25% U.S. steel tariffs came into effect. So far, no one has been granted an exemption from them, and the duties themselves apply not only to steel and aluminum products, but also to hundreds of types of products made from these metals — from fasteners and aluminum cans for drinks to metal structures and bulldozer knives. Earlier, on February 10, 2025, US President Donald Trump signed a decree imposing duties of 25% on all steel and aluminum imported into the country. The Trump administration also highlights a list of 167 "derivative" steel products to be included in Section 232 tariffs in the United States.
The index of production in the extraction of metal ores in Russia in March 2025 increased by 1.3% compared to March 2024. The production of iron ore concentrate in March amounted to 7.9 million tons, a decrease of 1.2%. The production of raw or semi—processed gold, or in powder form, increased by 6.9% compared to March 2024, and decreased by 11.3% compared to February 2025. The production of raw or semi—processed silver in March 2025 decreased by 15.1% compared to the same period in 2024, and increased by 3% compared to the previous month.
Read more about this in issue No. 1621 of the monthly bulletin "Branches of the Russian Economy: Manufacturing, Finance, Securities. Ferrous and Non-ferrous Metallurgy" by the AK&M News Agency dated May 07, 2025.
