According to a report released by the OECD, by the end of 2023, the global crude steel production capacity will reach 2.4986 billion tons, an increase of 57.1 million tons or 2.3% compared to 2022 and 91.6 million tons or 3.8% compared to 2019. This is also the first annual increase of over 50 million tons in global crude steel production capacity in 10 years.
Production capacity of crude steel in various regions
According to the OECD forecast, Asias crude steel production capacity ranks first globally in 2023, estimated to be 1.6566 billion tons, an increase of 40.1 million tons or 2.5% compared to 2019; Next is Europe, with a production capacity of 294.3 million tons, an increase of 7 million tons or 2.4% compared to 2019. Among them, EU countries have 213.6 million tons, a decrease of 2.32 million tons or 1.1% compared to 2019, while other European countries have 80.7 million tons, an increase of 9.3 million tons or 13.0% compared to 2019; North America ranks third with a production capacity of 165.8 million tons, an increase of 11.6 million tons or 7.5% compared to 2019; The production capacity of CIS countries is 145.1 million tons, an increase of 1.7 million tons or 1.2% compared to 2019; The production capacity in Latin America is 75.9 million tons, an increase of 2 million tons or 2.7% compared to 2019; The production capacity of Middle Eastern countries is 103.3 million tons, an increase of 22.6 million tons or 28.0% compared to 2019. The production capacity in Africa is 51.4 million tons, an increase of 6.8 million tons or 15.1% compared to 2019; The production capacity of Oceania is 6.4 million tons, which has remained stable since 2019. The global crude steel production capacity is 2.4986 billion tons, an increase of 91.6 million tons or 3.8% compared to 2019.