Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) fell -8.7% on-year in May to 148.78 million tonnes, Kallanish notes. The association reiterates, however, that many figures are estimates and likely to be revised next month due to the Covid-19 pandemic impact.
China was again one of few nations to record output growth in May, as production rose 4.2% to 92.27mt. Vietnam also saw output increase, by 11.4% to 1.95mt. India, Japan and South Korea reported a -39%, -32% and -14% fall respectively to 5.77mt, 5.92mt and 5.39mt.
The EU28 saw output fall -27% in May to 10.49mt. German output is estimated to have declined -19% to 2.85mt, while Italian output is estimated to have slumped -44% to 1.25mt. Spanish output fell -34% to 833,000t and French production declined -37% to 784,000t.
Turkish output slumped -26% to 2.27mt.
US production slumped -37% to 4.79mt, while Brazilian output fell -23% to 2.19mt.
CIS output fell -7.6% in May to 8.17mt, with Russian production estimated to be down -5% to 6mt and Ukrainian output falling -10% to 1.64mt.
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.
