Global steel output growth slows on China deceleration

Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) grew 11.6% on-year in June to 167.92 million tonnes, Kallanish notes. This represented a slight slowdown in growth rate due to slowing Chinese output growth. Production was also down 4% on May.

Chinese production grew only 1.5% on-year in June to 93.88mt, while Indian output surged 21% to 9.36mt. Output in Japan and South Korea surged 44% and 17% respectively to 8.1mt and 6mt. Vietnamese output is estimated to have risen 43% to 1.97mt.

EU27 crude steel output grew 35% in June to 13.22mt, driven by 38% and 20% surges in Germany and Italy respectively to 3.4mt and 2.18mt. Output in Spain is estimated to have risen 57% to 1.3mt and French production grew 55% to 1.29mt. Finland, notably, saw output soar 94% to 386,000t.

The UK saw output at an estimated 695,000t, up 39% on-year.

Turkish production meanwhile rose 18% to 3.36mt.

US production surged 44%, rising for the fourth consecutive month, to 7.14mt, while Brazilian production surged 45% to 3.12mt.

CIS production grew 9% to 8.92mt, with Russian output estimated up 11% to 6.35mt and Ukrainian production confirmed up 3% to 1.87mt.

Global crude steel production in January-June thus grew 14.4% on-year 1.004 billion tonnes.

Adam Smith Germany