worldsteel: Crude Steel Output Posted Nominal Surge in October

SEATTLE (Scrap Monster): The world crude steel production by 71 countries reporting to the World Steel Association (worldsteel) totalled 150.0 million tonnes (Mt) in the month of October this year, marginally higher by 0.60% when compared to the same month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 108.80 Mt during the month. The second largest producer was the EU-27 region, with an output of 10.60 Mt. In third place was the North American region countries, which recorded an output of 9.30 Mt. The output (in Mt) by the other regions is as follows: Africa (1.90), Russia and other CIS+Ukraine (7.40), Other Europe (3.60), Middle East (5.00) and South America (3.40).

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The Russia and other CIS+Ukraine region output surged the most, rising significantly by 12.90% from the prior year month. The Middle East too saw notable surge in output by 5.00%. The African region recorded modest year-on-year rise in output by 3.50%. The Asia and Oceania region output too was up marginally by 0.8%.

The largest production decline of 8.7% was recorded buy the South American region. The output by the bloc of EU-27 countries diminished by 7.10% over October 2022. The South American countries recorded 8.10% year-on-year decline in crude steel output during the month. Meantime, the Other Europe crude steel output dropped marginally by 0.20% over the prior year.

Meantime, the North American output remained flat.

The 71 countries in the list accounted for nearly 98% of the world crude steel production last year.