Global steel production fell slightly in May 2026 and by 1.5% in the first five months of the year, according to World Steel Association data. However, the United States recorded a sharp increase, while the European Union as a whole continued to decline.
China, the world’s largest steelmaker, saw output drop 3.9% to 415.5 million tonnes in January–May, hurt by weak domestic demand and growing trade barriers, including the EU’s Carbon Border Adjustment Mechanism. Beijing is also stepping up pressure to close old, inefficient plants. The US, by contrast, posted a 6.8% rise in the five-month period to 35.6 million tonnes, and a 15% jump in May alone, overtaking Japan to claim third place globally. Japan’s output fell 0.7% to 33.6 million tonnes.
China’s decline and the impact of trade barriers
The contrasting fortunes of the world’s two largest steel producers highlight the effect of protectionist policies. US tariffs imposed under President Trump’s second term have spurred domestic output, while Chinese mills struggle with overcapacity and shrinking export markets. India, the world’s second-largest producer, continues to grow steadily, producing 72.9 million tonnes in the first five months – more than double the US figure – and widening its lead over the rest of the top ten.
Vietnam emerged as the fastest-growing major producer, with output up 26.8% to 12.6 million tonnes, entering the top ten at the expense of Iran, which saw production collapse amid conflict with the US. South Korea also moved up, surpassing Russia with 26.4 million tonnes (up 2.7%), while Russian output plunged 10%.
A reshuffled global ranking
Germany posted an 8.8% increase to 15.7 million tonnes, but remains behind Turkey (16.5 million tonnes, up 6.8%). The European Union as a whole, however, continued to slide: output fell 1.5% to 54.4 million tonnes in January–May. The bloc’s decline contrasts with the strong performance of individual countries like Germany and shows the uneven impact of trade tensions and decarbonisation costs.
Asia and Oceania together now account for three-quarters of global steel output – 574.4 million tonnes out of 773.1 million tonnes in the first five months of 2026. The shift in production away from China and toward the US and India is reshaping the industry’s global geography.
Źródło: WNP.PL, Fot. PTWP
