Iron ore price, page-51119

While China was flat for the month, it’s good to see a recovery in European markets. India continues to go from strength to strength and looks like it’s on track to hit 140mt for the year, up 12% or 15mt on last year. IO supplied to India is still marginal but steel imports from India have increased significantly in recent months and are now a net steel importer due to strong domestic demand.

If India is not able to meet increasing domestic demand through higher steel production, China may very well create a new steel export record next year again.

https://www.thehindu.com/business/E...strong-demand-crisil/article67657621.ece/amp/

https://worldsteel.org/media-centre/press-releases/2023/november-2023-crude-steel-production/

November 2023 crude steel production
21 December 2023 Brussels, Belgium
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 145.5 million tonnes (Mt) in November 2023, a 3.3% increase compared to November 2022.

Crude steel production



Crude steel production by region

Africa produced 1.8 Mt in November 2023, up 3.1% on November 2022. Asia and Oceania produced 104.8 Mt, up 2.2%. The EU (27) produced 10.6 Mt, up 3.2%. Europe, Other produced 3.7 Mt, up 22.2%. The Middle East produced 4.8 Mt, up 4.0%. North America produced 8.9 Mt, up 3.1%. Russia & other CIS + Ukraine produced 7.4 Mt, up 14.8%. South America produced 3.5 Mt, down 0.6%.



Table 1. Crude steel production by region

Nov 2023 (Mt) % change Nov 23/22 Jan-Nov
2023 (Mt) % change Jan-Nov 23/22
Africa 1.8 3.1 20.1 4.5
Asia and Oceania 104.8 2.2 1,271.4 1.8
EU (27) 10.6 3.2 117.6 -7.8
Europe, Other 3.7 22.2 37.9 -6.3
Middle East 4.8 4.0 48.2 0.3
North America 8.9 3.1 100.2 -2.5
Russia & other CIS + Ukraine 7.4 14.8 81.4 4.4
South America 3.5 -0.6 38.3 -6.0
Total 71 countries 145.5 3.3 1,715.1 0.5


The 71 countries included in this table accounted for approximately 98% of total world crude steel production in 2022.