The 1551st AK&M Bulletin on Metallurgy was published

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AK&M 04 December 2023 12:44

The 1551st issue of the bulletin "Branches of the Russian economy: Production, Finance, securities. Ferrous and non-ferrous Metallurgy" of the AK&M News Agency.

In October 2023, global steel production increased slightly. According to the World Steel Association (WSA), 150 million tons of steel were smelted during this period — this is 0.6% higher than the total in October 2022 and 0.5% higher than in September 2023. In just ten months of 2023, 1,567.3 million tons of steel were smelted worldwide — 0.2% more than in the same period of 2022 — with 56% of this volume coming from China. It is worth noting that 61 countries outside the top ten steel producers account for 13% of global smelting.

In Russia, 6.3 million tons of steel were smelted in October 2023 (+9.5% compared to the same period in 2022, +1.6% compared to the previous month). At the same time, Russia retained the fifth place among steel–producing countries. In general, in the ten months of 2023, the country increased metal production by 5.3% compared to a year earlier to 63.5 million tons. Pig iron production increased by 6.7% during this period, and the output of rolled ferrous metals increased by 6.4%.

The WSA has published a short-term forecast (Short Range Outlook, SRO), in which it estimated the global and regional apparent consumption of steel products. According to the association's estimates, this indicator, after a 3.3% reduction in 2022, will increase by 1.8% to 1,814.5 million tons in 2023 and by another 1.9% to 1,849.1 million tons in 2024. Worldsteel expects that the situation in the Chinese real estate market will stabilize in the second half of this year, and the demand for steel in the country in 2023 will show an increase of 2% year-on-year. The forecast for China for next year remains uncertain.

Gold production in Russia may reach its peak in 2030, and then move to a decrease, according to a report by the Central Research Geological Exploration Institute of Non-Ferrous and Precious Metals (CNIGRI). The report describes three possible scenarios. The basic one involves the production of gold in the fields being developed, prepared for development and explored. When implemented, the annual volume of gold production in Russia will reach 600 tons by 2030. In a progressive scenario involving the involvement in industrial development, including forecasted resources and reserves from the undistributed fund, production will exceed 700 tons. The report also considers the third scenario, a conservative one, in which new projects in the Russian Federation will not be launched at all. 

This and many other topics are covered in issue No. 1551 of the monthly bulletin "Branches of the Russian Economy: Production, Finance, Securities. Ferrous and Non-ferrous Metallurgy" by the AK&M News Agency dated November 29, 2023.