Year-to-Date Crude Steel Output Witnessed Notable Decline

SEATTLE (Scrap Monster): The global crude steel production witnessed modest decline until May this year. The most recent data published by the World Steel Association (worldsteel) suggests 5.2% year-on-year decline in output during this period.

The world produced 728.715 million tonnes (Mt) of crude steel during Jan-May ’20. This is modestly down by 5.2% when compared with the production of 768.683 Mt during the comparable period in 2019.

The Asian production totalled 532.285 Mt, accounting for just over 73% of the global steel output. The region reported 2.4% dip in output, compared with 545.443 Mt a year before. The Chinese output surged higher by 1.9% over the year. All other major producing countries in the region, including India, Japan and South Korea saw their output decline during the four-month period.

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The African output has tumbled by almost 22% year-on-year to 4.997 Mt. The North American and South American crude steel production was down by 14.6% and 17% respectively. On t he contrary, the Middle East region posted increased output during this period. The region’s output was up by 2.1% from 16.188 Mt to 16.532 Mt, said worldsteel data.

The EU-28 countries reported 17.7% decline in output. The output by Other Europe region too recorded 7.6% decline. The C.I.S. crude steel output totalled 41.150 Mt in Jan-May ’20, down by 3.5% from the prior year period.