worldsteel Announced Dip in July 2024 Crude Steel Output

SEATTLE (Scrap Monster): The world crude steel production by 71 countries reporting to the World Steel Association (worldsteel) totalled 152.8 million tonnes (Mt) in the month of July this year, significantly down by 4.7% when compared with the corresponding month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 112.7 Mt during the month. The second largest producer was the EU-27 region, with an output of 10.8 Mt. In third place was the North American countries, which recorded an output of 8.8 Mt. The output (in Mt) by the other regions is as follows: Africa (2.0), Russia and other CIS+ Ukraine (7.5), Other Europe (3.7), Middle East (3.7) and South America (3.7).

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The crude steel production recorded year-on-year jump in four regions- Africa, EU-27, Other Europe and South America. The South American region output surged the most, rising by 6.0% from the prior year month. The Other Europe region witnessed the least rise in output, increasing by 0.6%.

All other regions reported dip in production during the month. The largest production decline of 10.1% was recorded by the countries in the Middle East region. The other regions to record year-on-year decline in crude steel production volumes were the Asia & Oceania and North America, whose output declined by 6.4% and 2.4% respectively year-on-year.

The Russia and Other CIS+ Ukraine output too was down by 0.8% upon comparison with July 2023.