World Crude Steel Output Soared in Jan-Oct '21

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 1,607.1 million tonnes (Mt) during the initial ten-month period of the current year. This is higher by 5.9% when compared with the production during the period from January to October in 2020.

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World Crude Steel Output Dipped Substantially in October

The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 1,166.1 Mt. The region accounted for nearly 73% of the total global production. The regional output surged higher by 3.0% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year surge by 18.4% to 128.4 Mt. In third place was North America with a production of 98.80 Mt. The year-to-date production posted notable increase by 18.80% over Jan-Oct ‘20.

The CIS region recorded notable surge by 5.8% in output to 87.30 Mt. The South American output, at 38.10 Mt, was up substantially by 22.6%, when matched with the previous year. The Middle East output edged lower by 1.5% to 33.0 Mt. Meanwhile, the African countries witnessed 30.4% surge in output to 13.3 Mt during January to October 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.