Global Crude Steel Output Surged Until Feb '20

SEATTLE (Scrap Monster): The crude steel production by world countries recorded nominal surge during the opening two months this year. According to the recent statistics published by the World Steel Association (worldsteel), the global crude steel output surged higher by 1.0% in Jan-Feb ‘20, when compared with the similar two-month period in 2019. The monthly global steel output too recorded surge in February. 

The cumulative crude steel production totalled 293.984 million tonnes (Mt) from January to February in 2020. This compares with the production of 291.025 Mt tonnes in Jan-Feb ‘19.

One of the major contributors of the rise in output was the Asian region, whose output surged higher by 2.0% year-on-year. The Chinese production remained robust, surging higher by 3.1% over the previous year. The Middle East steel output surged higher by over 26% in the initial two-month period in 2020.

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The South American production was down by 6.0%, whereas the North American countries recorded 1.4% decline in output. The African crude steel production tumbled by nearly 3.6%. Meantime, the EU-28 region output was down by 9.1. The output by CIS countries was down by 0.6%. The crude steel output by the Oceania region surged higher by 4%, said worldsteel data.