World Crude Steel Output Posted Substantial Dip Until February

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 299.4 million tonnes (Mt) during the initial two-month period of the current year. This is substantially down by 5.5% when compared with the production during the period from January to February in 2021.

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World Crude Steel Output Recorded Notable Dip in February

Topmost Steel Producing Countries in February 2022

The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 215.8 Mt. The region accounted for over 72% of the total global production. The regional output dropped by 7.2% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 2.2% to 23.8 Mt. In third place was North America with a production of 18.5 Mt. The year-to-date production posted marginal increase by 0.4% over Jan-Feb‘21.

The CIS region recorded nominal decline by 1.7% in output to 16.80 Mt. The South American output, at 6.9 Mt, was down substantially by 5.9%, when matched with the previous year. The Middle East output has edged higher significantly by 9.4% to 7.40 Mt. Meanwhile, the African countries witnessed 5.9% surge in output to 2.5 Mt during January to February 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.