Global production turns down again in April

Global crude steel production growth turned down again in April, following its March rebound, coming in 2.4% lower on-year at 161.38 million tonnes amid drops in China, the EU and US. It was also down 3% versus March, Kallanish notes.

Chinese output inched down 1.5% on-year in April to 92.64mt. Indian production continued to be a bright spot, however, rising 3.2% to 10.72mt. Japanese output fell 3.1% to 7.24mt but South Korean production rose 3% to 5.69mt.

EU27 production meanwhile dropped 11.7% in April to 11.14mt, with German and Italian output down 3.8% and 12.1% respectively to 3.2mt and 1.9mt. Spanish output fell 15% to 950,000t and French production was estimated down 23% to 780,000t.

Unlike in each month of the first quarter, however, EU production also declined on-month in April, bringing to an end the sequential production rebound.

Turkish production fell 21% on-year in April to 2.68mt.

The US and Brazil saw output fall 5.3% and 5.9% respectively to 6.59mt and 2.77mt.

Russian output is estimated to have risen 1.9% to 6.38mt.

Crude steel output in the 63 countries monitored by worldsteel thus edged down 0.3% on-year in January-April to 622.74mt.

Adam Smith Poland