Broader recovery returns global steel output to growth

Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) inched up 0.6% on-year in August to 156.2 million tonnes, the first growth since March. China, Vietnam and Turkey were again the main actors behind the growth, but production also recovered in more countries, Kallanish notes.

China and Vietnam saw production hikes of 8.4% and 33% respectively to 94.85mt and 2.32mt. Indian, Japanese and South Korean output, however, fell -4.4%, -20.6% and -1.8% respectively to 8.48mt, 6.45mt and 5.8mt.

The EU28 saw output slump -16.6% to 9.32mt, with German output down -13.4% to 2.83mt. Italian and UK production, however, rose 9.7% and 11.2% respectively to 939,000t and 566,000t.

Turkish output continued its recovery, rising 23% in August to 3.24mt.

US production slumped -24.4% to 5.59mt but Brazilian output was up 6.5% to 2.7mt.

CIS production fell -6.2% to 7.93mt, with Russian output estimated to have dropped -4.6% to 5.55mt and Ukrainian production down -5.7% to 1.83mt.

Global steel output in January-August nevertheless still dropped -4.2% on-year to 1.19 billion tonnes.

For antitrust reasons worldsteel no longer produces a monthly global capacity utilisation ratio. Information on capacity can be found on the OECD website, worldsteel says.