Posted on 26 Oct 2023
In September, the 63 countries worldwide under the monthly survey of the World Steel Association (WSA) saw their total crude steel output decline by 1.5% on year to hit a seven-month low of 149.3 million tonnes, as against the 2.2% on-year rise for August, according to the new data released by the association on October 24.
The output decline was mainly due to the fall in steel production from China, the world's top steelmaking country. Last month, China's crude steel production contracted by 5.6% on year - as against August's 3.2% on-year growth – to sit at 82.1 million tonnes, accounting for 55% of the world's total. The production tonnage was also lower by 5% from August and marked the third consecutive on-month drop, Mysteel Global calculated based on the WSA data.
The global crude steel output had decreased for the third straight month too by another 2.3% on month in September, though over January-September, the 63 countries' steel output saw an uptick of 0.1% on year to 1.41 billion tonnes. Within the totals, China's crude steel output recorded 795.1 million tonnes in the past nine months, and the volume increased by 1.7% from the same period of last year.
In September, crude steel output in the other 62 countries grew 3.9% on year to reach 67.2 million tonnes, higher than the 0.9% on-year uptick for August, the WSA data found.
India, the world's second-largest steelmaking country, posted the most significant on-year gains in steel output among the top ten steel-producing countries, with its production volume in September swelling by 18.2% on year to 11.6 million tonnes and the accumulative volume for the past nine months growing 11.6% on year to 104.1 million tonnes, the data showed.
Apart from China, Japan, Brazil, and Iran reported on-year declines in their respective steel output for September, and all the three countries also recorded on-year falls in steel output for the January-September period, according to the release.
Source:Mysteel Global
