Except for India, all major steel-producing countries posted negative growth in production during the first seven months of the current year, leading to a 2.1% decline in the average global output at 955 MT, World Steel Association (WSA) data showed.
Production fell in the top two producing nations – China and Japan. In China it fell by 1.8% to 476 MT during the January-July period of the current year from 484.7 MT during the same period a year earlier. Production in Japan declined by 4.8% during the period to 61.4 MT from 64.5 MT.
Steel production in India, now the world’s third largest steel producer, on the other hand, increased by 4.3% during the January-July period of the current year to 52.88 MT from 50.7 MT during the same period a year ago.
US produced 46.9 MT steel during the period recording a whopping 8.4% decline in output compared to 51.3 MT produced during the year-ago period. Production in South Korea also fell by 3.9% to 40.% MT.
Production fell across all the region excepting for the Middle East and the European Union where they remained nearly static. European Union produced 101.8 MT steel during the period from 101.5 MT a year earlier. CIS countries produced 59.15 MT steel during the period compared to 63.77 MT, reporting a 7.2% decline.
In North America, it fell by 6.7% to 65.7 MT and in South America, the drop is negligible at 0.3% at 26 MT.
African countries produced 8.5 MT steel compared to 8.6 MT a year earlier. The Middle East produced 16.6 MT steel, up by 3.2% a year ago.
Asia, which has the maximum contribution in the world steel production, also produced 1.7% less steel during the January-July period of the current year at 644.23 MT steel compared to 655.32 MT during the same period a year earlier.