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Global Crude Steel Output Leaps 5% during Jan-July ‘17

Global Crude Steel Output Leaps 5% during Jan-July ‘17
Issue Time:2017-09-11
Global Crude Steel Output Leaps 5% during Jan-July ‘17
According to the latest monthly production statistics published by the World Steel Association (worldsteel), the crude steel output by 67 member countries registered significant surge during the initial seven-month period of the year. The output totaled 977.321 million tonnes (Mt) during this period, considerably higher by 4.6% upon comparison with the production during the corresponding period a year before. The global crude steel production had totaled 933.976 Mt in Jan-July 2016.

The crude steel production by South American countries registered significant uptick of 9% during the first seven months of 2017. The output totaled 24.792 Mt during this period. Venezuela recorded the sharpest jump in output. The country’s crude steel production recorded 43.6% upsurge to total around 271,000 tonnes. Brazilian crude steel output reported 10.6% jump over the previous year. Peru and Argentina were the other two countries to report surge in production. On the other hand, Chile, Paraguay and Uruguay recorded sharp decline in steel production.

The crude steel production by North American countries has increased by 3.1% during the seven-month period. The production totaled 67.587 Mt during this period, as compared with 65.565 Mt during the same period in 2016. The US crude steel output totaled 47.748 Mt, marginally higher by 2.1% when matched with 46.752 Mt during the similar period a year before. The largest decline in output was recorded by Cuba and Guatemala. Mexican output increased modestly by 9.9% year-on-year to total 11.773 Mt. The output by Canada too witnessed marginal rise of 0.7%.

The Asian crude steel output surged higher by 5.1% during Jan-July ‘17. The Chinese output increased further by 5.1%. The country’s output totaled 491.553 Mt during this period, as compared with 467.508 Mt during the previous year. The second largest producer in the region was Japan, whose output of 60.913 Mt recorded 0.2% year-on-year decline. In third place was India with production of 58.017 Mt, slightly higher by 5.4% when compared with the corresponding period a year before. Vietnam and Pakistan reported notable rise in production volume. The production by South Korea, Thailand and Taiwan too were up when matched with the previous year.

The crude steel production by the African region registered 10.1% jump during Jan-July ‘17. The Egyptian production soared by nearly 35%. However, this was largely offset by production declines in Libya and South Africa. The Libyan output plunged nearly 31%, whereas the South African production declined by 4.4% over the previous year.

Among other regions, the output by the Middle East region saw modest increase of 8.6% year-on-year. EU-28 countries too produced 3.9% more steel during Jan-July ’17 in comparison with the previous year. CIS region’s production tumbled by nearly 3.3%. The production by the Oceania region was up by 3.9%.