worldsteel Recorded 4% Surge in Crude Steel Output

SEATTLE (Scrap Monster): The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 150.2 million tonnes (Mt) during the month of February 2021. This is higher by 4.1% when compared with the production during the same month a year before.

The largest regional producer of steel during the month was Asia and Oceania region, which recorded an output of approximately 109.7 Mt. The region accounted for over 72% of the total global production. The output jumped higher by 7.5% over the previous year. The second largest producer was the EU-27, whose output recorded notable year-on-year decline by 7.1% to 11.9 Mt. In third place was North America with a production of 8.8 Mt. The monthly production posted sharp decline by 8.9% over February 2020.

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The CIS region recorded 1.5% decline in output to 8.0 Mt. The South American output, at 3.5 Mt, was up marginally by 2.2%, when matched with the previous year. The Middle East output was down slightly by 0.9% to 3.2 Mt. Meanwhile, the African countries witnessed 6.4% decline in output to 1.2 Mt.

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.