Global Crude Steel Production Fell in August: worldsteel

SEATTLE (Scrap Monster): In August of this year, 71 nations that report to the World Steel Association (worldsteel) produced 144.8 million tonnes (Mt) of crude steel worldwide, a considerable decrease of 6.5% from the same month the previous year.

With a production of 107.1 Mt for the month, Asia and Oceania was the region that produced the most steel. With an output of 9.1 Mt, the EU-27 region was the second-largest producer. With a production of 9.0 Mt, the North American countries came in third. Africa (1.9), Russia and the rest of the CIS+ Ukraine (7.0), Other Europe (3.7), the Middle East (3.4), and South America (3.6) account for the remaining regions' output (in Mt).

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The crude steel production recorded year-on-year jump in only three regions- EU-27, Other Europe and South America. The Other Europe region output surged the most, rising by 8.4% from the prior year month. The South American region witnessed the least rise in output, increasing by 0.8%.

Production fell in every other region during the month, according to reports. Russia and the other CIS+ Ukraine experienced the biggest production decline, with an 8.7% decline. Asia & Oceania and Africa were the other regions to report significant year-over-year declines in crude steel production volumes, with corresponding declines of 8.0% and 7.2%.

The North American output was down by 3.8%, while the output by the Middle East countries recorded decline by 3.2% upon comparison with August 2023.