Global output slows further in November

Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) fell for a fourth consecutive month in November, by 9.9% on-year to 143.3 million tonnes. This was again the result of China, despite US and EU output growing, Kallanish notes.

On an on-month basis, global output was down 2%.

Chinese crude steel output slumped 22% on-year in November to 69.3mt. Indian, Japanese and South Korean production however rose 2.2%, 10.7% and 2.7% respectively to 9.83mt, 8.04mt and 5.92mt. Vietnamese output grew 6.7% to 1.91mt.

EU27 production grew 3.7% in November to 12.92mt, despite German output inching down 0.3% to 3.37mt. Italian output rose 6.3% to 2.18mt, while French growth was only 0.1% to 1.15mt, but Spanish production dropped 2.2% to 1.15mt.

Turkish production grew 6.1% to 3.42mt.

US production growth remained strong, rising 13.8% to 7.17mt in November, while Brazilian output grew 2.5% to 3.09mt.

CIS production is estimated to have risen 5.8% to 8.78mt, with Russian output estimated up 9% to 6.45mt and Ukrainian production confirmed down 0.2% to 1.73mt.

Global crude steel production in January-November nevertheless still rose 4.5% on-year to 1.75 billion tonnes, but slowed from 5.9% growth after ten months.

Adam Smith Germany