Crude Steel Production by Asian Region Surged 5.7% in 2017

SEATTLE (Scrap Monster): The production data published by the World Steel Association (worldsteel) suggests considerable jump in crude steel production by the Asian countries during the previous year. The yearly crude steel output surged higher by 5.7% in 2017, when compared with 2016. Also, the monthly output in Dec ’17 edged higher by 2.6% over the previous year. The output had surged higher by 3% in November too. Chinese output in 2017 ended on a high note, despite production cuts.

The crude steel production by the Asian region totaled 1.152 billion tons in 2017, 5.7% higher over the previous year. The Asian crude steel production had totaled only 1.090 billion tons in 2016.

Among countries, Vietnam registered highest jump in output. The Vietnamese production almost doubled from 5.154 Million tons (Mt) in 2016 to 10.300 Mt in 2017. The output by Pakistan registered nearly 40% jump from 3.553 Mt to 4.950 Mt. Thailand’s crude output rose by 17% from 3.824 Mt in 2016 to 4.480 Mt in 2017. The Chinese output surged higher by 5.7% over the previous year. The only country to see drop in output was Japan. The Japanese output declined marginally by 0.1% from 104.775 Mt in 2016 to 104.661 Mt during the previous year.

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For the month of December 2017, all countries in the region reported jump in production when matched with Dec ’16. The cumulative production by the Asian region was up by 2.6% at 94.346 Mt in Dec ’17, as compared with the output of 91.912 Mt during the corresponding month in 2016.

The single largest producer in the region, China, lifted its output by 1.8% from 65.860 Mt in Dec ’16 to 67.047 Mt in December last year, despite production cuts. India, with an output of 8.796 Mt emerged as the second largest regional crude steel producer. The country’s output totaled 8.796 Mt as against the output of 8.385 Mt in Dec ’16. The third biggest producer in the region was Japan with 8.719 Mt. The country’s output edged higher marginally from 8.714 Mt in Dec ’16.

South Korean crude steel production witnessed 4.5% jump in December 2017. The country’s output totaled 6.124 Mt. Also, Taiwan registered marginal increase in output by 1.5% over the previous year. Vietnam’s monthly crude steel production skyrocketed by 78% from 491,000 tons to 875,000 tons in Dec ’17. Pakistan and Thailand saw 26% and 20% jump in monthly output over the year.