worldsteel: World Crude Steel Output Dropped in March

SEATTLE (Scrap Monster): The world crude steel production by 71 countries reporting to the World Steel Association (worldsteel) totalled 161.2 million tonnes (Mt) in the month of March this year, down by 4.3% when compared with the corresponding month a year before.

The largest steel producing region was the Asia and Oceania, whose output totalled 118.30 Mt during the month. The second largest producer was the EU-27 region, with an output of 11.60 Mt. In third place was the North American countries, which recorded an output of 9.50 Mt. The output (in Mt) by the other regions is as follows: Africa (1.90), Russia and other CIS+ Ukraine (7.80), Other Europe (3.90), Middle East (4.80) and South America (3.50).

The Other Europe region output surged the most, rising significantly by 11% from the prior year month. The Middle East region too saw notable surge in output by 4%. The Russia and Other CIS+ Ukraine output too was up by 1.50% upon comparison with March 2023. The African region recorded modest year-on-year rise in output by 1.1%.

The largest production decline of 5.80% was recorded by the countries in the Asia and Oceania region. The other regions to record year-on-year decline in crude steel production volumes were the EU-27 and North America, whose output declined by 4.3% and 1.4% respectively year-on-year. The South American crude steel output too went lower by 0.2%.

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