World Crude Steel Production Surged Notably in November

SEATTLE (Scrap Monster): The world crude steel production continued to surge in November 2020. The monthly production statistics published by the World Steel Association (worldsteel) points to 6.6% surge in output when compared with the same month a year before. The Nov ’20 output by 64 countries reporting to the Association totalled 158.261 million tonnes (Mt), as compared with the output of 151.885 Mt in November last year.

The combined global steel output totalled 1.670 billion tonnes during the first eleven months of the current year, down marginally by 1.3% when matched with the previous year. The production had totalled 1.692 billion tonnes in Jan-Nov ‘19.

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World Crude Steel Output Dipped 2% Until October

The production by Asian region reported 8.3% jump in November, mainly driven by 8% year-on-year increase in Chinese output. The Middle East crude steel output recorded 7.6% jump in output, despite notable decline witnessed in the UAE and Qatar. African crude steel production was down by 3% over the previous year. The U.S. production dropped significantly by 13.7%, which in turn resulted in 10.8% dip in production by the North American region.

Meantime, South American output reported modest increase by 8.3% year-on-year. The CIS and EU-28 regions too witnessed surge in output by 7.0% and 5.5% respectively. Also, the Other Europe region recorded 9.1% jump in output. The production by Oceania region posted 3.1% decline when compared with November last year.