Source: Scrap Monster
The crude steel production by world countries recorded modest surge during the initial ten-month period this year. According to the recent statistics published by the World Steel Association (worldsteel), the global crude steel output surged higher by 3.2% in Jan-Oct ‘19, when compared with the similar ten-month period in 2018. The above figures are based on the output by 64 steel producing countries, which accounted for approximately 99% of the world crude steel production in 2018. The monthly global steel output too recorded decline in October.
The cumulative crude steel production totalled 1.542 billion tonnes from January to October in 2019. This compares with the production of 1.494 billion tonnes in Jan-Oct ‘18.
The major contributor of the rise in output was the Asian region, whose output surged higher by 5.5% year-on-year. The Chinese production remained robust, surging higher by 7.4% over the previous year. The Middle East steel output surged higher by 4.4%.
The South American production was down by 8.3%, whereas the North American countries recorded stable production over the previous year. The African crude steel production tumbled by nearly 5%. Meantime, the EU-28 region output was down by 3.6%. The output by CIS countries remained more or less unchanged. The crude steel output by the Oceania region recorded 4% decline in Jan-Oct ‘19. The output by Other European countries comprising of Bosnia-Herzegovina, Macedonia, Norway, Serbia and Turkey collapsed by 9.3% from the prior year, worldsteel data said.