World Crude Steel Output Rebounded in August

SEATTLE (Scrap Monster): The World Steel Association (worldsteel) published the monthly crude steel production data for the month of August this year.

According to data, the crude steel output by 64 countries reporting to the Association totalled 156.244 million tonnes (Mt) during the month, up marginally by 0.6% when compared with the same month a year before. The production had totalled 155.374 Mt in the same month in 2019. The year-to-date production recorded a decline by 4.2% to 1.188 billion tonnes, as compared with 1.240 billion tonnes of production in Jan-Aug ’19.

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Upon comparison with the prior year, all the regions except Asia and Other Europe reported notable decline in steel output in August 2020. The North American steel output recorded the highest decline, falling by 23.7% year-on-year, driven by major declines in key producing countries including the U.S. and Canada. All the countries in South America except Brazil reported reduced output. The region, as a whole, reported 1.7% decline in output. Meantime, African countries witnessed 11.2% dip in steel output.

The EU-28 countries produced 16.6% less steel than August 2019. The CIS region posted 6.2% year-on-year decline in output. The Middle East and Oceania region witnessed 9.5% and 3.1% decline respectively. The Asian crude steel production surged higher by 4.8%. China- the world’s largest steel producer saw its output rise by 8.4%.