World Crude Steel Output Dipped 2% Until October

SEATTLE (Scrap Monster): The crude steel production by world countries recorded modest decline during the initial ten-month period this year. In accordance with the latest statistics published by the World Steel Association (worldsteel), the global crude steel output registered decline by 2% in Jan-Oct ‘20, upon comparison with the similar ten-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 monthly output surged nearly 7% in the month of October this year.

The crude steel production totalled 1.511 billion tonnes in January to October in 2020, as compared with the production of 1.542 billion tonnes in Jan-Oct ‘19.

The Asian steel production witnessed marginal increase by 1.4%. The Middle East steel output edged higher slightly by 0.8%.

The South American production nosedived by 12.4%, whereas the North American countries recorded sharper decline in output by 17.4% over the previous year. The African crude steel production tumbled by 15.1%. Meantime, the EU-28 and CIS region output was down by 16.7% and 1.90% respectively. The crude steel output by the Oceania region recorded a decline of 1.8% in Jan-Oct ‘20. The output by Other European countries surged higher marginally by 1.6% from the prior year, worldsteel data said.

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