World Crude Steel Production Surged 2.6% in August
The Chinese steel production continued to rise during the month.
SEATTLE (Scrap Monster): The monthly steel production statistics released by the World Steel Association (worldsteel) suggests 2.6% surge in reported production by world countries in August this year. The output by 64 countries reporting to the Association totaled 151.740 million tonnes (Mt) in August 2018, as compared with the output of 147.899 Mt during the same month a year before.
The crude steel output during the initial eight months of the current year totaled 1.194 billion tonnes, higher by 4.8% when matched with the output of 1.140 billion tonnes during Jan-Aug in 2017.
All regions except Other Europe reported jump in output over the previous year. Meantime, production by the CIS region remained more or less unchanged. The biggest jump in production was reported by Oceania region, whose output skyrocketed by 10.3%. The North American and South American production was up by 4.6% and 2.3% respectively. Europe’s output edged higher marginally by 1.4%.
The Chinese steel production continued to rise during the month. The output was up by 2.7% from 78.207 Mt in Aug ’17 to 80.326 Mt in August this year. India outclassed Japan in monthly output, second month in a row. Incidentally, all Asian countries except Pakistan reported increased production. The U.S. output surged higher by more than 5%, whereas the Turkish steel production for August 2018 was down by 5.7%.