Global Crude Steel Production Recorded Notable Dip in August

SEATTLE (Scrap Monster): The World Steel Association (worldsteel) announced crude steel production details for the month of August this year. The global output witnessed a decline by 3% during the month.

As per monthly statistics published yesterday, the global crude steel output totalled 150.6 million tons (Mt) in August 2022. This is down by 3% when compared with the same month a year before. The year-to-date output totalled 1,253.9 Mt, which is down by almost 5% from Jan-Aug ’21 output.

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The Asia and Oceania region was the largest producer, recording an output of 112.6 Mt during the month. The regional output recorded marginal decline by 0.2% from the prior year. The region’s cumulative steel output during the first eight months of the year was down modestly by 4.3% to total 925.1 Mt.

In second place was the EU-27 countries, whose combined output totalled 9.7 Mt in August and 95.3 Mt in Jan-Aug ’22. The monthly and year-to-date steel output by the region recorded notable declines by 13.3% and 6.9% respectively.

The crude steel output by the Middle East region surged significantly by 34.2% in August 2022 to total 3.2 Mt. The Jan-Aug ’22 output too stood higher by 6.9% over the previous year. The Other Europe region witnessed the largest fall in output year-on-year. The August 2022 output by the region dropped by 18.6% to 3.6 Mt.