World Crude Steel Production Recorded Decline Till September

SEATTLE (Scrap Monster): The crude steel production by world countries recorded modest decline during the initial nine-month period this year. According to the recent statistics published by the World Steel Association (worldsteel), the global crude steel output edged lower by 3.2% in Jan-Sep ‘20, when compared with the similar nine-month period in 2019. 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 cumulative crude steel production totalled 1.347 billion tonnes from January to September in 2020. This compares with the production of 1.392 billion tonnes during the first nine months of the previous year.

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All regions across the world except Asia and Other Europe reported reduced output. The Asian production, at 1.002 billion tonnes, was up marginally by 0.2% from the prior-year period. The Chinese production managed to remain in positive territory, edging higher marginally by 4.5%. The output by Other Europe region inched higher by 0.1%.

The South American production was down by almost 14%, whereas the North American countries recorded production decline by 18%. The African crude steel production tumbled by nearly 16%. Meantime, the EU-28 region output was down by almost 18%. The output by CIS countries witnessed 2.5% year-on-year decline. The crude steel output by the Oceania region recorded 2.9% decline in Jan-Sep ’20, worldsteel data said.