World Crude Steel Output Witnessed Notable Surge Until August

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 1,321.90 million tonnes (Mt) during the initial eight-month period of the current year. This is higher by 10.6% when compared with the production during the period from January to August in 2020.

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The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 966.30 Mt. The region accounted for nearly 73% of the total global production. The regional output surged higher by 8.5% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year surge by 20.5% to 102.10 Mt. In third place was North America with a production of 78.80 Mt. The year-to-date production posted notable increase by 19.20% over Jan-Aug ‘20.

The CIS region recorded notable surge by 7.7% in output to 70.90 Mt. The South American output, at 30.30 Mt, was up substantially by 24.9%, when matched with the previous year. The Middle East output was higher by 10.1% to 29.0 Mt. Meanwhile, the African countries witnessed 30.3% surge in output to 10.6 Mt during January to August this year.

It must be noted that the 64 countries included in the list, had accounted for 98% of world’s total crude steel production in 2020.