Global Steel Production Surged 4% in March

SEATTLE (Scrap Monster):  The crude steel production by 64 countries reporting to the World Steel Association (worldsteel) totaled 148.330 million tonnes (Mt) during the month of March this year. The production recorded a jump of 4% when compared with March 2017. Also, the world crude steel production during the initial quarter of 2018 was up by 4.1% from the initial three-month period in 2017 to total 426.6 Mt.

Region-wise, the Middle East steel output reported highest year-on-year jump in production. The region’s production skyrocketed by nearly 29%, mainly on account of 44% increase in Iranian output. Saudi Arabian output too was up significantly by 13%. On the other hand, the UAE output has dropped sharply by over 12%. The output by Qatar too decreased marginally in March this year.

C.I.S. was the only region to report reduced steel production during the month. The regional output dropped 6% over the previous year, despite notable jump in production by countries including Moldova, Byelorussia and Uzbekistan. The Russian output registered a decline of over 10%.

The steel production by Asian region extended its strong rally, reporting year-on-year jump of 4.3% compared with March 2017. The production totaled 102.190 Mt during the month. The Chinese crude steel output totaled 73.980 Mt, accounting for more than 72% of total regional production. India continued to remain as the second largest Asian producer, pushing Japan to the third spot. All countries in the region reported year-on-year jump in output.

The South American output climbed higher by nearly 8.7% from 3.669 Mt to 3.990 Mt over the year. Brazil continued to be the largest regional producer, accounting for more than three-fourth of the total regional output. Meantime, the North American output too was up by nearly 5% from 9.816 Mt in March last year to 10.296 Mt in March this year. The U.S. crude steel output edged higher by 5.3%.

The EU-28 and Other Europe saw increased production. The output by Africa and Oceania region saw notable jump during the month of March 2018.