Global steel exports, excluding stainless steel, rose a nominal 4% to around 243 million tonnes (mnt) provisionally in calendar 2023 (CY’23) compared to 234 mnt in CY’22, as per data maintained with BigMint. The 16 countries tracked by BigMint contribute over 90% of the global seaborne steel trade. It was China, the largest steel exporter globally, which pulled up the overall export volumes as 11 of the 16 countries showed a y-o-y decline in a scenario where high interest rates, sliding currencies, inflation, and geo-political upheavals kept demand low. The European Union figures of 17 mnt considered exclude the intra-EU trade.
