World Crude Steel Output Dropped in March

SEATTLE (Scrap Monster): The world crude steel production by 64 countries reporting to the World Steel Association (worldsteel) totalled 161.0 million tonnes (Mt) in the month of March this year, down modestly by 5.80% compared to the same month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 118.60 Mt in March 2022. The second largest producer was the EU-27 region, with an output of 12.80 Mt. In third place was North America, which recorded an output of 9.70 Mt. The output (in Mt) by the other regions is as follows: Africa (1.2), Russia & Other CIS + Ukraine (7.4), Other Europe (4.2), Middle East (3.5) and South America (3.7).

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Among various regions, only South America recorded year-on-year jump in crude steel output over the prior year month. The output by the region surged higher marginally by 1.7% year-on-year.

The output by Russia & Other CIS + Ukraine dropped the most, falling by 19.2% over the year. The African steel output too witnessed significant decline by 17.1%. The monthly output by the EU-27 and Asia & Oceania regions were down by 8.50% and 5.0% respectively. Other Europe and Middle East crude steel production declined by 3.5% each. Meantime, North American output recorded year-on-year decline by 2.8%.

The topmost steel producing country was China, with an output of 88.3 Mt in March 2022. The other key steel producing countries were India (10.9 Mt) and Japan (8.0 Mt).