NEWS

Global steel production down 2.4 pc in June as US, China output declines

Friday, Jul 24, 2015

World steel production showed a 2.4% decrease to 136 million tonne (mt) in June 2015, led by decline in two key producing regions, North America and China, while India's output bucked the trend, posting an 0.8% increase during the month to touch 7.4 million tonne.

In the first six months of 2015, global steel output went down 2% to 813 mt, according to latest data from the Brussels-based World Steel Association which collates production figures for 65 countries reporting to it.

Among major Asian steel producers, China's steel production for June 2015 was 69 mt, a 0.8% decrease compared to June 2014.

Since the country is the world's largest steel producer and with an annual output of over 600 mt, any contraction in Chinese production has a huge impact on steel output globally.

Japan which produced 8.6 mt of crude steel in June 2015 showed a 6.2% drop in production during the month as compared to June 2014.

South Korea another significant contributor to Asia's steel output, registered a 3.6% slide in production to 5.9 mt in June 2015, compared to June 2014.

In North America, the US produced 6.7 mt of crude steel, down 8.5% over June 2014. In Russia, steel output was down 7.5% over June 2014 to 5.6mt, while political instability continued to plague Ukraine, which posted a whopping 21.8% decrease in steel production to 2 mt as compared to the same month in 2014. However, Brazil's steel production showed an increase to 2.8 mt in June this year, up 2.1% on June 2014.

In the European Union (EU), Germany led the production data with a 5.8% jump in production to 3.8 mt in June 2015, compared to June 2014. During the month, Italy's output fell by 11.4% to 1.9 mt, as compared to June 2014, while France showed a 1.3% decline in steel output to 1.4 mt during the month when compared to June 2014.

In the first half of 2015, North America and CIS both reported negative growth of 6.9%, while steel output in Asia dropped by 1.5%. However, the Middle East region posted a 2.9% increase and South American output remained the same compared to the first half of 2014.

 

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