Loading price data
Scrap Monster
Access the
Platform
ScrapMonster has become North America's largest scrap trading platform with 98,254 members and the trusted source for scrap prices, news, and information. Join Today!
Steel News June 27, 2022 09:30:55 PM

Global Steel Output Witnessed Decline in Jan-May

Paul Ploumis
ScrapMonster Author
The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 582.0Mt.

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.

YOU MAY ALSO BE INTERESTED IN:

World Steel Association: Topmost Producers Worldwide in May 2022

AISI Posted Dip in U.S. Raw Steel Output

×