Ukrainian metallurgy strengthens its position on the world stage in 2024

Global iron and steel production in 2024 experienced a certain decline, but Ukrainian metallurgy showed growth and maintained a stable position among the industry leaders. Despite difficult conditions, Ukraine demonstrates positive dynamics, which emphasizes its competitiveness in the global market.

According to data published by Ukrmetallurgprom based on the Worldsteel report, 1,391.49 million tons of iron were produced in the world in 2024. This figure is 1.31% less than in 2023. China remains the largest producer, providing 61.2% of the global volume, smelting 851.74 million tons of iron. At the same time, this figure for China decreased by 2.30% compared to the previous year.

Ukraine, despite the difficult economic situation, increased its pig iron production by 18.1% compared to 2023, reaching 7.09 million tons. Thanks to this, the country retained 13th place among the 40 leading global producers, strengthening its reputation as an important player in the industry.

As for steel production, in 2024 the global volume amounted to 1839.45 million tons, which is 0.91% less than a year earlier. China remains the leader here, producing 1005.09 million tons, which corresponds to 54.6% of the global volume.

Ukrainian metallurgists, despite the global recession, increased steel production by 21.64%, reaching 7.58 million tons. This allowed Ukraine to take 20th place among 71 steel-producing countries, which is a significant achievement against the backdrop of decreasing global volumes.

The growth of Ukrainian metallurgical production in the face of international competition demonstrates the industry's efficiency even in challenging times. This success underscores the role of metallurgy as one of the key sectors of Ukraine's economy, helping to maintain its strategic importance on the world stage.