Crude Steel Production by Asian Countries Dipped 4%

SEATTLE (Scrap Monster): The steel production statistics published by the World Steel Association (worldsteel) suggests over 4% decline in output by Asian region during the initial two months of 2020.

The production decline was mainly led by Taiwan, India and Japan. China- the region’s largest steel producer in the region too saw its output fall by 1.7%. On the other hand, Pakistan and Vietnam reported were the only countries in the region to post rise in production levels when matched with Jan-Feb ’20.

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The Asian crude steel production totalled 105.688 million tonnes (Mt) in February 2020, down by 6.0% when compared with the production of 110.188 Mt in the same month a year before. The Chinese crude steel output totalled 78.975 Mt, recording year-on-year decline by nearly 1.7% over the previous year. The country accounted for nearly three-fourth of the total regional production. India continued to remain as the second largest producer in the region, with an output of 8.650 Mt, lower by 13.9% year-on-year. In third place was Japan, whose output totalled 8.200 Mt.

Among all countries in the region, Taiwan posted the largest year-on-year decline in steel production. The country’s steel output fell by over 22%.