Chinese Output Surge Fails to Lift Asian Crude Steel Production

SEATTLE (Scrap Monster): The Asian crude steel production registered decline by 2.3% in June this year. The regional production during the initial six-month period too stood lower when matched with the comparable six-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 113.297 million tonnes (Mt) in June this year. This compares with the output of 116.004 Mt in the same month last year. The Jan-June ’20 output totalled 641.997 Mt, down by 3% from 661.592 Mt produced during the corresponding six-month period in 2019.

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The leading steel producer in the region was China, with a production of 91.579 Mt in June this year. The country accounted for almost 81% of the total regional output. The Chinese production surged higher by 4.5% from the year before.

The Indian crude steel output registered substantial decline by 26.3% from 9.387 Mt in June 2019 to 6.917 Mt in June this year. The output by Japan too tumbled by 36.3% from 8.793 Mt to 5.598 Mt over the previous year.

The production by Thailand and Pakistan dropped by 27.6% and 35% respectively. Vietnam recorded 13.4% year-on-year jump in output. Taiwan’s steel output was down by 6% year-on-year.

The monthly data suggests that Vietnam was the only other country, in addition to China, to record higher production levels.