Global Crude Steel Output Surged 6.3 pct in August

SEATTLE (Scrap Monster): According to the latest monthly production statistics published by the World Steel Association (worldsteel), the crude steel production by 67 member countries registered significant surge during the month of August this year. The output totaled 143.580 million tonnes (Mt) during the month, considerably higher by 6.3% upon comparison with the production during the same month a year before. The global crude steel production had totaled 135.117 Mt in August 2016.

The crude steel capacity utilization rate of member countries in August this year was 72.2%. This was higher by 3.3% than August 2016. However, the rate was marginally lower by 0.2% over July this year.

South America

A marginal rise of 1.6% was witnessed in monthly crude steel output by the South American region countries during August this year. The regional output totaled 3.765 Mt. Venezuela recorded the sharpest decline in output. The country’s crude steel production declined by 64% year-on-year to total around 20,000 tonnes. The output by Argentina reported 22% jump over the previous year. The other countries to report surge in production were Brazil, Ecuador and Brazil. On the other hand, Paraguay and Colombia recorded sharp decline in steel production. Peru and Uruguay too reported reduced output during the month.

North America

The North American region reported 6.5% surge in crude steel production during the month. The production totaled 9.974 Mt during the month, as compared with 9.364 Mt during August last year. The US crude steel output jumped higher by 6.3% to 7.064 Mt when matched with 6.648 Mt during the same month a year before. The output by Cuba and Guatemala declined. Mexican output increased by 5.0% year-on-year to total 1.730 Mt. The steel output by Canada surged higher by 11.3%.

Asia

The Asian crude steel output surged higher by 7.2% during the month. The Chinese output recorded healthy growth by 8.7%. The country’s output totaled 74.594 Mt in August ‘17, as compared with 68.618 Mt in August last year. Japan continued to remain as the second largest producer in the region with output falling by 2% over the previous year. In third place was India with production of 8.474 Mt, higher by 4.1% when compared with the same month a year before. Vietnam and Pakistan reported notable rise in production volume. The production by South Korea and Taiwan too were up. Meantime, steel output by Thailand declined by 3.4%.

Africa

The crude steel production by the African region surged higher significantly by nearly 21% during the month. The South African production soared by nearly 24.4%. Egypt too recorded 23.6% jump in production. However, this was largely offset by 35.8% production decline in Libya. The country’s steel output dropped from 31,000 tonnes to 20,000 tonnes.

Other regions

Among other regions, the output by the Middle East region saw modest increase of 9.6% year-on-year. EU-28 countries too produced 3.6% more steel during August 2017 in comparison with August last year. CIS region’s production tumbled by nearly 4%. The production by the Oceania region has increased marginally by 2.3%.