World Crude Steel Output Dipped Till July

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 1,102.3 million tonnes (Mt) during the initial seven-month period of the current year. This is significantly down by 5.4% when compared with the production during the corresponding period a year before.

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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 812.6 Mt. The region accounted for almost 74% of the total global crude steel production. The regional output dropped by 4.8% over the previous year. The second largest producer was the block of EU-27 countries, whose cumulative steel output recorded notable year-on-year decline by 5.6% to 86.0 Mt. In third place was North America with a production of 66.4 Mt. The year-to-date production posted marginal decline by 3.2%, upon comparison with Jan-July ’21.

Russia and other CIS countries along with Ukraine recorded notable decline by 18.8% in output to 50.50 Mt. The South American output, at 25.5 Mt, was down modestly by 3.4%, when matched with the previous year. Meanwhile, the African countries saw their output drop by 8.6% to around 8.4 Mt during January to July this year.

The Middle East was the only region to record increased output year-on-year. The output by the region surged higher by 4.4% to 25.3 Mt during this period.

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.