World Crude Steel Output Increased in August

SEATTLE (Scrap Monster): The world crude steel production by 63 countries reporting to the World Steel Association (worldsteel) totalled 152.6 million tonnes (Mt) in the month of August this year, significantly higher by 2.20% when compared to the same month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 115.70 Mt during the month. The second largest producer was the North American region, with an output of 9.20 Mt. In third place was the bloc of EU-27 countries, which recorded an output of 9.10 Mt. The output (in Mt) by the other regions is as follows: Africa (1.50), Russia and other CIS+Ukraine (7.50), Other Europe (3.40), Middle East (2.80) and South America (3.40).

The African output surged the most, rising significantly by 16.1% from the prior year month. Russia and other CIS+Ukraine region too saw notable surge in output by 10.70%. The Asia and Oceania region recorded modest year-on-year rise in output by 3.50%.

The largest production decline of 16% was recorded buy the Middle East region. The output by EU-27 region diminished by 4.40% over August 2022. The South American countries recorded 8.10% year-on-year decline in crude steel output during the month. Meantime, the Other Europe and North American crude steel output dropped by 3.20% and 1.20% respectively over the prior year.

The 63 countries in the list accounted for nearly 97% of the world crude steel production last year.

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