Global Crude Steel Production Surged 3.4%

SEATTLE (Scrap Monster):  The monthly crude steel production by 64 countries reporting to the World Steel Association (worldsteel) surged higher by 3.4% year-on-year in August 2019. The global steel production totalled 156.038 million tonnes (Mt) during the month, when matched with the production of 150.855 Mt recorded during the same month a year before.

The production growth was led by the Asian region, whose Aug ’19 output edged higher by 6.2% over the previous year. Chinese output totalled 87.251 Mt, accounting for almost 56% of the global output. Apart from Asia, only Middle East and Oceania region reported increased year-on-year output.

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The African crude steel production slumped by 14.6%, whereas the South American output registered a decline of 11% over August 2018. The European output was down 2.2%. The CIS and North American regions witnessed decline in output by 1.1% and 3.1% respectively, World Steel Association data said.

The cumulative steel output by world countries during the first eight months of the current year is still higher by 4.4%, upon comparison with the year before. The output increased year-on-year from 1.188 billion tonnes to 1.240 billion tonnes. China, with an output of 664.87 Mt, accounted for almost 75% of the Asian output and 54% of the global total production.