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Kallanish Kallanish

Knowledge matters Knowledge matters

August, 15th 2020

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Kallanish Steel Weekly: Global steel production slows down again to reach new record drop (Dec. 3, 2019)

The World Steel Association (worldsteel) said last week that global crude steel output from its 64 reporting countries was 151.5 million tonnes in October 2019, down -2.8% year-on-year. This drop is the biggest registered globally since 2016.

This year crude steel production increased strongly since the beginning of the year, reaching a record-level positive monthly jump of 6.6% y-o-y in April. Since then nevertheless the trend has been deteriorating and production started growing negatively in September.

China produced 81.5mt in the month, a fall of just -0.6% on October 2018 but still well over half of the world’s crude steel output.

Crude steel production in India was 9.1mt, down by -3.4% from October 2018 whilst output in Japan was also fell, by -4.9% to 8.2mt. South Korean production fell by -3.5% y-on-y during the month to reach 6.0mt.

In the EU28 total October crude steel production fell by -8.7% y-o-y to 13.3mt. Output in Germany also moved down by -6.8% to 3.7mt. Further, monthly production dipped on-year in Italy, falling by  -3.7% to 2.2mt. French crude steel output tumbled on-year in October by -10.6% to 1.2mt. Spanish output decreased by -7.6% to 1.2mt.

Turkish production was 2.7mt in the month, down by a significant -15.0% y-o-y.

US crude steel output was 7.4mt in October 2019, an on-year decrease of -2.0% whilst in Brazil crude steel production was 2.6mt, down by a whopping -19.4% on October 2018.