Global Steel Output Recorded Notable Dip in Feb: worldsteel

SEATTLE (Scrap Monster): The World Steel Association (worldsteel) announced details of crude steel production by world countries during the month of February this year. The global output witnessed a marginal decline by 1.0% during the month.

As per monthly statistics published yesterday, the global crude steel output totalled 142.4 million tons (Mt) in February 2023. This is down by 1.0% when compared with the same month a year before. The year-to-date output totalled 297.8 Mt, which is down by almost 0.8% from Jan-Feb ‘22 output.

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The largest steel producer was the Asia and Oceania region, which recorded an output of 106.6 Mt during the month. The regional output recorded modest increase by 3.0% from the prior year. The region’s cumulative steel output during the first two months of the current year was up modestly by 3.0% to total 223.9 Mt.

In second place was the EU-27 countries, whose combined output totalled 10.5 Mt in February and 20.7 Mt in Jan-Feb ’23. The monthly and year-to-date steel output by the region recorded notable declines by 12.6% and 14.3% respectively.

The crude steel output by the Middle East region surged significantly by 11.5% in February 2023 to total 3.5 Mt. The Jan-Feb ‘23 output too stood higher by 17.1% over the previous year. The Russia & Other CIS+ Ukraine region witnessed the largest fall in output year-on-year. The output by the region dropped by 21.3% to 6.4 Mt.