World Crude Steel Output Dipped Substantially in October

SEATTLE (Scrap Monster): The world crude steel production by 64 countries reporting to the World Steel Association (worldsteel) totalled 145.7 million tonnes (Mt) in the month of October this year, down significantly by 10.6% compared to the same month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 100.7 Mt in October this year. The second largest producer was the EU-27 region, with an output of 13.4 Mt. In third place was North America, which recorded an output of 10.2 Mt. The output (in Mt) by the other regions is as follows: Africa (1.4), CIS (8.2), Other Europe (4.2), Middle East (2.2) and South America (3.9).

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The African output surged the most, rising by 24.1% from the prior year month. The North American and the EU-27 regions recorded surge in output by 16.9% and 6.4% respectively. The South American region’s production soared by almost 12.1%. Other Europe too saw modest jump in output by 7.7%. On the other hand, the CIS region saw its output decrease marginally by 0.2% over the previous year. The Middle East production recorded sharp year-on-year decline by 12.7%. Also, the Asia and Oceania region recorded dip in output by 16.6%.

The topmost steel producing country was China, with an output of 71.6 Mt in October this year. The other key producers were India (9.8 Mt) and Japan (8.2 Mt).