Global Steel Export Rankings 2024 China Remains Dominant as Emerging Markets Rise
According to the latest data from the World Steel Association (Worldsteel), the global steel trade landscape in 2024 remained stable, but several emerging economies showed remarkable growth. China maintained its position as the world’s largest steel exporter, shipping 68.7 million tons—a 5.2% increase year-on-year—further solidifying its market dominance.
Asia Remains the Core of Steel Exports, India Shows Strong Growth
Japan ranked second with 32.6 million tons exported, though this marked a slight 1.1% decline from 2023.
South Korea took third place with 29.5 million tons, up 0.9%, primarily supplying Southeast Asia and the U.S.
India emerged as the standout performer, exporting 23.8 million tons, a sharp 12.5% surge, driven by demand from Southeast Asia, the Middle East, and Africa.
Europe Holds Steady, Turkey Balances Imports and Exports
Turkey ranked fifth with 21.2 million tons exported, but it is also the world’s second-largest steel importer, reflecting its role in processing trade.
Germany (15.3 million tons, 6th) and Italy (12.5 million tons, 7th) remained stable, mainly supplying the EU and North America.
Despite sanctions, Russia exported 11.7 million tons, ranking eighth, with shipments mainly flowing to the Middle East, Africa, and Asia.
Middle East Surges Ahead, UAE Up Over 30%
The UAE saw steel exports reach 9.6 million tons, skyrocketing 33.2% year-on-year, jumping to ninth place globally due to expanded domestic production and re-exports.
Iran ranked tenth with 9.1 million tons, primarily supplying neighboring countries like Iraq and Afghanistan.
Emerging Markets Gain Momentum
Vietnam, Brazil, and Mexico each exported over 7 million tons, highlighting their growing role in global supply chains. Vietnam primarily serves ASEAN markets, while Brazil and Mexico benefit from rising intra-Americas trade.
Key Trends in Global Steel Trade
China’s dominance remains unchallenged, accounting for nearly 30% of global exports.
Rapid growth from India, UAE, and other emerging suppliers could reshape traditional trade patterns.
Geopolitical factors persist, with Russia and Iran adapting export flows.
Regionalization strengthens, with Southeast Asia, the Middle East, and Africa as key growth markets.
The 2024 data confirms Asia’s leadership in global steel trade, but the rise of emerging economies is reshaping competition. Looking ahead, shifts in green steel initiatives and trade policies may further disrupt the rankings.
Source： Worldsteel