World Crude Steel Output Plummeted Through November

SEATTLE (Scrap Monster): The crude steel production by world countries recorded modest decline during the initial eleven-month period this year.

According to the recent statistics published by the World Steel Association (worldsteel), the global crude steel output edged lower by 1.3% in Jan-Nov ‘20, when compared with the similar eleven-month 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 1.670 billion tonnes from January to November in 2020. This compares with the production of 1.692 billion tonnes during the first eleven months of the previous year.

All regions across the world except Asia, Middle East and Other Europe reported reduced output. The Asian production, at 1.240 billion tonnes, was up marginally by 2.0% from the prior-year period. The Chinese production managed to remain in positive territory, edging higher marginally by 5.5%. The output by Other Europe region inched higher by 2.3%. The Middle East was up by 1.4% year-on-year.

The South American production was down by almost 10.6%, whereas the North American countries recorded production decline by 16.7%. The African crude steel production tumbled by nearly 14%. Meantime, the EU-28 region output was down by almost 15%. The output by CIS countries witnessed 1.2% year-on-year decline. The crude steel output by the Oceania region recorded 1.9% decline in Jan-Nov ’20, worldsteel data said.