Global Crude Steel Output Posted Decline in Q1 2020

SEATTLE (Scrap Monster): The world crude steel production by 64 countries reporting to the World Steel Association (worldsteel) was 443.030 million tonnes (Mt) in the opening quarter of 2020. The production reported 1.4% decline upon comparison with the corresponding three-month period from January to March in 2019.

The biggest jump in output was reported by the Middle East region, whose output surged higher by 7.7% from the previous year. In fact, it was the only region to report increased year-on-year output. Iran’s output surged higher by over 13% from the previous year.

The South American output was down by 7.1%, mainly on heavy declines reported in major producing countries including Argentina, Brazil, Venezuela and Peru. On the other hand, Chile posted 5.3% jump in output. The North American steel production recorded 4% decline, mainly due to production declines in major producing nations including the U.S., Canada and Mexico.

ALSO READ: World's Topmost Crude Steel Producing Nations in March

The EU-28 countries saw their output drop by 10%, whereas CIS region witnessed 0.6% dip in output. The production recorded nearly 9% drop in African region. Oceania too posted 1.7% dip in output in Jan-Mar ‘20.

The Asian crude steel production was down marginally by 0.3%. The Chinese output edged higher marginally by 1.2%, whereas the output by other major producers including India, Japan and South Korea posted decline in output.