Global Steel Output Witnessed Decline in Jan-May

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 791.8 million tonnes (Mt) during the initial five-month period of the current year. The production for the period is down significantly by 6.3% when compared with the production during the corresponding quarterly period a year before.

The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 582.0Mt. The region accounted for approximately 73.5% of the total global production. The regional output reported decline by 6.5% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 4.3% to 62.3 Mt. In third place was North America with a production of 47.5 Mt. The quarterly output by the region posted marginal decline by 2.3% over the corresponding period in 2021.

The Russia and Other CIS along with Ukraine recorded substantial decline in output by 13.1% to 38.4 Mt. The South American output, at 18.1 Mt, was down modestly by 2.4%, when matched with the previous year. The Middle East output was modestly lower by 6.1% to 17.0 Mt. Meanwhile, the African countries witnessed 7.0% decline in output to 6.1 Mt during January to May this year.

It must be noted that the 64 countries included in the list, had accounted for 98% of world’s total crude steel production in 2021.

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