Half-Yearly Global Crude Steel Output Declined 6%

SEATTLE (Scrap Monster): The crude steel production by world countries recorded modest decline during the initial six-month period this year. According to the recent statistics published by the World Steel Association (worldsteel), the global crude steel output edged lower by 6% in Jan-June ‘20, when compared with the similar half-yearly period in 2019. The above figures are based on the output by 64 steel producing countries, which accounted for approximately 99% of the world crude steel production in 2019.

The cumulative crude steel production totalled 873.134 million tonnes (Mt) from January to June in 2020. This compares with the production of 928.425 Mt during the first six months of the previous year.

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All regions across the world reported reduced output. The Asian production, at 641.997 Mt, was down by 3% from the prior-year period. The Chinese production managed to remain in positive territory, edging higher marginally by 1.4%. The Middle East steel output was down by 0.3%.

The South American production was down by almost 20%, whereas the North American countries recorded production decline by 17.6%. The African crude steel production tumbled by nearly 21%. Meantime, the EU-28 region output was down by 18.7%. The output by CIS countries witnessed 4% year-on-year decline. The crude steel output by the Oceania region recorded 3.3% decline in Jan-June ‘20. The output by Other European countries collapsed by 6.3% from the prior year, worldsteel data said.