Crude Steel Output by Asian Countries Surged

SEATTLE (Scrap Monster): The Asian crude steel production surged higher by 4.5% in February this year. The regional production during Jan-Feb ’20 too stood higher when matched with the comparable two-month period in 2019.

In accordance with the latest monthly crude steel production statistics published by the World Steel Association (worldsteel), the Asian output totalled 101.678 million tonnes (Mt) in February this year. This compares with the output of 97.322 Mt in February 2019. The Jan-Feb ’20 output totalled 208.769 Mt, higher by 2% from 204.619 Mt produced during the corresponding two month period last year.

The leading steel producer in the region was China, with a production of 74.773 Mt in February this year. The country accounted for almost 74% of the total regional output. The Chinese production surged higher by 5% from the year before.

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The Indian crude steel output surged higher by 1.5% from 9.421 Mt in Feb ’19 to 9.560 Mt in February this year. The output by Japan was up by 2.2% from 7.745 Mt to 7.916 Mt over the previous year.

The production by Thailand and Pakistan surged higher by 25.7% and 25.6% respectively. Vietnam recorded 24.4% year-on-year jump in output. On the contrary, Taiwan was the only country in the region to report reduced production during the month. The Taiwanese steel output dropped by 5.5% from the prior year.