World Crude Steel Production Dipped in 2020

SEATTLE (Scrap Monster): The crude steel production by world countries recorded nominal decline during the previous year.

In accordance with the latest statistics published by the World Steel Association (worldsteel), the global crude steel output registered marginal decline by 0.9% in 2020, upon comparison with the 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 higher by nearly 5.8% in the month of December in 2020.

The crude steel production totalled 1.829 billion tonnes in 2020, as compared with the production of 1.846 billion tonnes in 2019.

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The Asian steel production witnessed marginal increase by 1.6%. The Middle East steel output edged higher slightly by 2.7%.

The South American production nosedived by 8.4%, whereas the North American countries recorded sharper decline in output by 15.5% over the previous year. The African crude steel production tumbled by 10.1% during the previous year.

The EU-28 output was down by 11.8%, whereas the CIS region reported marginal jump in output over the previous year. The crude steel output by the Oceania region recorded a decline of 1.4% in 2020. The output by Other European countries surged higher marginally by 3.9% from the prior year, worldsteel data said.