Global Crude Steel Output Rose Marginally by 0.8% in January

SEATTLE (Scrap Monster):  The monthly crude steel production data published by the World Steel Association (worldsteel) suggests marginal jump in output during the first month of the current year. The Jan ’18 crude steel production edged higher by 0.8% when compared with the previous year. All regions except CIS and North America reported year-on-year jump in production. The world crude steel production totaled 139.439 million tonnes (Mt) during the month, as compared with 138.268 Mt in January 2017.

The production by African countries surged higher by more than 15% from 1.116 Mt to 1.285 Mt, mainly aided by huge increase in production by Libya, Egypt and South Africa. The Libyan output has skyrocketed by over 400% during the month.

The Other Europe region comprising of Bosnia-Herzegovina, Macedonia, Norway, Serbia and Turkey reported 11.9% surge in steel output. Serbia’s output more than doubled during the month. The regional production totaled 3.514 Mt.

The Middle East crude steel production soared by 11.4% over the previous year to total 2.918 Mt. The production had totaled only 2.620 Mt in January last year. The decline in output by Qatar, Saudi Arabia and the UAE was offset by 26% surge in production by Iran. The country accounted for nearly 68% of the regional output.

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The EU production edged higher marginally by 1.4% from 14.191 Mt in January last year to 14.391 Mt in Jan ’18. Among countries, Germany continued to be the top producer in the region, registering 1.5% year-on-year growth. Greece’s output rebounded, but Croatian production declined during the month.

Among other regions, South American output increased marginally by 3.2%. On the other hand, North American crude output dropped by 2.1%. The steel output by Oceania region reported 12% jump. Asian output was up slightly by 0.3%. The Chinese production recorded marginal decline. The CIS region too reported 1.4% decline in monthly production.