World Crude Steel Output Recorded Notable Surge

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 837.5 million tonnes (Mt) during the initial five-month period of the current year. This is higher by 14.5% when compared with the production during the corresponding five-month period in 2020.

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The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 616.5 Mt. The region accounted for approximately 74% of the total global production. The regional output surged higher by 14.9% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 15.3% to 64.4 Mt. In third place was North America with a production of 48.4 Mt. The year-to-date production by the region posted sharp surge by 11.3% over Jan-May ‘20.

The CIS region recorded modest jump in output by 8.4% in output to 44.3 Mt. The Other European countries saw their output rise by 17.3% to total 20.9 Mt. The South American output, at 18.7 Mt, was up significantly by 24.1%, when matched with the previous year. The Middle East output went higher by 8.1% to 17.8 Mt. Meanwhile, the African countries witnessed 24.4% surge in output to 6.5 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 2020.