Global Crude Steel Output Through November Recorded Notable Surge

SEATTLE (Scrap Monster): The cumulative crude steel output by world countries has reported significant surge during the initial eleven months of the current year. As per the latest production statistics released by the World Steel Association (worldsteel), the combined crude steel production by the 66 member countries belonging to the Association has surged higher by 5.4% during Jan-Nov ’17. The production totaled 1.536 billion metric tons (mt) during this period, as against the output of 1.457 billion metric tons (mt) during Jan-Nov ’16.

The Americas

South America reported notable jump in crude steel production during the opening eleven months of 2017. The region produced 40.055 million metric tons (Mt) of crude steel, higher by 7.9% when matched with the previous year. This was mainly on account of increased production in Brazil, Argentina and Peru. Chile and Colombia too recorded marginal rise in production. On the other hand, the rise in production from these countries was partially offset by sharp production declines in Venezuela and Paraguay. The Venezuelan output has tumbled by nearly one-third during the eleven-month period.

The North American crude steel production increased marginally by 4.7% during the eleven-month period. The production totaled 106.382 Mt during this period, as compared with 101.580 Mt during the corresponding eleven-month period last year. The US produced 4.1% more crude steel. The country’s output totaled 74.95 Mt during Jan-Nov ’17. Apart from Trinidad and Tobago, Cuba and Guatemala reported reduced output. On the other hand, Mexico, El Salvador and Canada reported higher production volumes.

Asia

Asia accounted for nearly 69% of the total world crude steel production during Jan-Nov ’17. The Asian crude steel output surged higher by 5.6%. China-the key producer in the region reported 5.7% jump in output. Japan was the only country to report weaker output. The country’s output dropped marginally by 0.1%. Meantime, Vietnamese output surged higher by nearly 87%. Pakistan reported 43% year-on-year jump in production volumes.

Africa

The African region’s crude steel production rose robustly by nearly 16% during the first eleven months of 2017. The 16.1% decline in steel output volumes by Libya was more than offset by 37.6% surge in production volumes by Egypt. The South African crude steel production too increased marginally.

Middle East & Other regions

Among other regions, the Middle East reported 11.9% increase in output over the previous year during the period up to November 2017. EU-28 countries produced 3.8% more steel during Jan-Nov ’17 in comparison with the previous year. CIS region’s production has increased slightly by 0.4%. The production by the Oceania region too was up marginally by 2.4%.