Author: Vlastimil Vilímek | Prague on 28.08.2024

The European Union recorded an increase of 5.7% to 10.8 million tonnes.

Here it is interesting to see the production of countries such as Germany, which produced 3.1 million tonnes (+4.8% increase).

China, as the world’s largest steel producer, showed a significant decline of 9.0% with 82.9 million tonnes produced. This decline is an important signal for coking coal markets, as China is also one of the main consumers of this raw material.

On the other hand, India recorded an increase of 6.8%, representing an expansion of its steelmaking capacity and increased demand for coking coal.

Global steel production is directly linked to the coking coal market.

In regions where there has been an increase in steel production, such as India, we can expect increasing pressure on coking coal supplies and a possible increase in prices.

Conversely, in China, where production has declined, the opposite trend may be observed, with a possible weakening of the coking coal price due to reduced demand.

In conclusion, the evolution of crude steel production in 2024 provides important indicators for predicting future trends in the coking coal market and hence for companies’ strategic decision-making in this area.

In order to keep the information accurate and up-to-date, it is important to regularly monitor reports and analyses provided by recognised organisations such as worldsteel.

Thank you for reading and commenting

Vlastimil 🙋‍♂️

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