Global pig iron production

Global pig iron production saw a decrease of 3.7% in June 2024, totaling 119.44 million tons, with a year-to-date decline of 1.8%. Ukraine's pig iron production for June was 629,000 tons, marking a significant year-on-year drop of 29.4%. In the U.S., steel production in the Great Lakes region decreased by 1.87% last week, contributing to a 2.3% decline in national production compared to the previous year. Meanwhile, global steel production for the first half of 2024 remained steady at 954.62 million tons, slightly lower than the previous year. China's increasing steel exports are causing global prices to fall, with exports anticipated to rise by 27% in 2024, affecting markets worldwide. Additionally, Ukraine's steel production grew by 36.9% year-on-year in the first half of 2024, reflecting resilience amidst broader industry challenges.