World Crude Steel Output Dipped 8.7% in May

SEATTLE (Scrap Monster): The May 2020 crude steel production data published by the World Steel Association (worldsteel) indicates notable decline in global output during the month, despite production surge in China.

The crude steel production by the 64 countries reporting to the Association was 148.8 million tonnes (Mt) in May this year. This is down by 8.7%, compared with the same month a year before. The production by world countries had totalled nearly 163 Mt in May 2019. Meantime, the Association noted that the production figures by many countries are based on estimates, due to the impacts of Covid-19 pandemic and that they may be revised in next month data.

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China- the world’s largest crude steel producer recorded 4.2% year-on-year jump in production. The country accounted for over 81% of the Asian output and nearly 62% of the global production.

All regions reported reduced production levels during the month. EU-28 countries saw its output fall by 26.8%. The output by the CIS region too has dipped by 7.6%. The North American and South American steel output dropped by 31% and 25.8% respectively. The African crude steel production plunged by 42%, whereas the Middle East output was down by 7.3%. The Asian production recorded 3.3% decline. Also, Oceania region posted 3.7% year-on-year decline in output.