Global crude steel production inched up 0.5% on-year in June to 161.4 million tonnes – but fell 2% versus May – as Indian and EU production growth offset declines in the US, Japan and Korea, Kallanish notes.
Chinese output rose 0.2% on-year to 91.6mt, but was down on-month, while Indian output grew 6% on-year to 12.3mt, and was also up on-month. Japanese and Korean production fell 4.2% and 7.2% respectively to 7mt and 5.1mt, according to worldsteel data.
EU27 production actually grew handsomely, by 5% on-year to 11.08mt, but remained down versus May. The on-year comparison comes from a low base, after EU mills cut output 11% on-year in June 2023.
The growth was due to German production surging 8.9% on-year in June to 3.2mt, while Spanish output rose 8% to 990,000t and French output by 3% to 729,000t. Italian production meanwhile dropped 3% on-year to 1.85mt.
Compared to May, however, Spanish and French output were down 11% and 28% respectively. Italian output fell 4% and German production was unchanged.
Turkish production rose 4% on-year in June to 3.07mt.
US output declined 1.5% to 6.66mt but Brazilian production surged 12% to 2.87mt.
Russian production was estimated down 4% to 6.03mt and Ukrainian production was confirmed up 68% to 735,000t.
Crude steel output in the 71 countries monitored by worldsteel was thus down only 100,000t on-year in the first half of 2024 at 954.6mt, as slightly lower Chinese and Japanese output were offset by growth in India, Germany and Turkey.
Adam Smith Poland