World Steel Output Dropped in First Three Quarters This Year

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 1,405.2 million tonnes (Mt) during the initial nine-month period of the current year. This is substantially down by 4.3% when compared with the production during the period from January to September in 2021.

The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 1,037.9 Mt. The region accounted for approximately 74% of the total global production. The regional output dropped by 2.9% over the previous year.

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The second largest producer was the block of EU-27 countries, whose combined output recorded notable year-on-year decline by 8.2% to 105.8 Mt. In third place was North America with a year-to-date production of 84.9 Mt. The production by the region posted modest decline by 4.2% over Jan-Sep ‘21.

The Russia & Other CIS + Ukraine region recorded significant decline by 18.5% in output to 65.80 Mt. The South American output, at 32.7 Mt, was down modestly by 4.6%, when matched with the previous year. The African countries witnessed 6.5% dip in output to 11.10 Mt during the first three quarters of the year.

The Middle East output edged higher significantly by 7.9% to 32.30 Mt, becoming the only region to witness surge in output year-on-year.