World Crude Steel Output Reported Robust Start to 2020

SEATTLE (Scrap Monster): The world crude steel production by 64 countries reporting to the World Steel Association (worldsteel) was 154.436 million tonnes (Mt) in the opening month of 2020. The production reported 2.1% surge upon comparison with the same month in 2019.

The biggest jump in output was reported by the Middle East region, whose output surged higher by 29.5% from the previous year. Iran’s output skyrocketed by almost 47% from the previous year.

The South American output was down by 10.6%, mainly on heavy declines reported in major producing countries including Argentina, Brazil, Venezuela and Uruguay. On the other hand, Chile posted 35% output surge. The North American steel production declined marginally by 1.4% despite increased output by the U.S.

The EU-28 countries saw their output drop by 12%, whereas CIS region witnessed 1.2% dip in output. The production recorded over 18% drop in African region. Oceania too posted 5.4% dip in output in January 2020.

The Asian crude steel production surged higher by 4.2%. The regional production growth was mainly led by China, whose output was up by 7.2% compared to January 2019. Meantime, Indian output recorded year-on-year decline by 3.2%. Also, Japanese output was down marginally by 1.3%.

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