World Crude Steel Output Surged 1.7% in July
The Middle East region’s crude steel output was up by 3.8% when compared with July last year.
SEATTLE (Scrap Monster): The crude steel production by 64 countries reporting to the World Steel Association (worldsteel) rose marginally by 1.7% during July this year. The production totaled 156.697 million tonnes (Mt), compared with the production of 154.009 Mt in the same month a year before.
The countries belonging to the Asian region, especially China, accounted for bulk of the crude steel production during the month. The Asian crude steel output at 113.254 Mt, accounted for more than 72% of the global production. The region recorded 3.9% jump in output over the previous year. The Chinese crude steel output surged higher by 5% from 81.180 Mt in July ’18 to 85.223 Mt in July this year. The country accounted for over 75% and 54% of the regional and global steel production respectively.
The Middle East region’s crude steel output was up by 3.8% when compared with July last year.
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All other regions reported reduced output year-on-year. The sharpest decline was reported by South America, whose output slumped by more than 18%, on the back of huge output declines in Brazil and Venezuela. The North American output too was down marginally by 1.5%, despite the U.S. and Canada maintaining positive trends in output growth over the previous year. Meantime, the African output reported decline by 15.1%.
The European crude steel output edged lower by 0.2%. The output by CIS region too was down by 1.5%. The Oceania crude steel production plunged over 16%, said worldsteel data.