Crude Steel Output Till July Recorded Substantial Dip

SEATTLE (Scrap Monster): The crude steel production by world countries recorded notable decline during the initial seven-month period this year. In accordance with the latest statistics published by the World Steel Association (worldsteel), the global crude steel output registered a decline by 5.3% in Jan-July ‘20, upon comparison with the similar seven-month period a year before. The above figures are based on the output by 64 steel producing countries, which accounted for approximately 99% of the world crude steel production in 2019.

The global crude steel production totalled 1.027 billion tonnes in January to July in 2020. This compares with the production of 1.085 billion tonnes during the comparable period last year.

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All regions across the world recorded reduced production levels over the previous year. The Asian region reported 2% year-on-year decline in output, despite 2.8% rise in output from China. The Middle East region posted marginal dip in output by 0.4% from 22.987 million tonnes (Mt) to 22.899 Mt.

The South American production nosedived by 17.2%, whereas the North American countries recorded 18.7% dip in output over the previous year. The African crude steel production tumbled by almost 19%. Meantime, the EU-28 and CIS region output was down by 19.2% and 4.30% respectively. The crude steel output by the Oceania region was down marginally by 1.4%. The output by Other European countries collapsed by 4.7% from the prior year, worldsteel data said.