NEWS

Global steel production fell by 3% in August 2015, lead by China

Wednesday, Sep 23, 2015

Global steel production fell by 3 per cent in August 2015, its biggest fall this year led by decline in China's steel production. India however managed to beat the blues to report a 2.8 per cent growth in steel output during the month compared to same month last year. World steel production went down to 132 million tonne (mt) last month, as China, which produces more than half of the world's steel, registered a 3.5 per cent drop in steel output to 66.9 mt. Despite the threat of imports, India produced 7.66 mt in August 2015 compared to 7.45 mt in August 2014, according to the Brussels-based World Steel Association (WSA).

The WSA, which collates data from 65 countries reporting to it and represents around 98 per cent of world steel production, said crude steel capacity utilisation ratio for 65 countries in August 2015 was 68 per cent. This was 3.6 percentage points lower than August 2014. Compared to July 2015, it was 0.4 per cent percentage points lower.

On a country-wise break up, within the European Union, Germany produced 3.4 mt of crude steel in August 2015, an increase of 10.7 per cent compared to August 2014. France produced 1 mt a decrease of 1.5 per cent compared to same month last year. Italy too produced 1 mt of steel during the month up 1.3 per cent over August 2014. Turkey's steel output fell by a significant 11.8 per cent to 2.6 mt in August 2015 compared to August 2014. In the UK steel output went down a significant 16.3 per cent to 0.9 mt over 1.1 mt in August last year.

While Russia produced 6 mt of steel last month, down 3.2 per cent over August 2014, Ukraine's steel production managed to recover and post gains of 8.6 per cent at 1.9 mt in August this year, compared to the same month in 2014.

Within North America, one of the largest steel producers the US reported 7 mt of crude steel production in August 20125, down 9.7 per cent compared to its output in August 2014, In South America, Brazil witnessed a 5.4 per cent decline in steel output in August 2015, compared to August 2014.

Elsewhere in Asia, Japan produced 8.8 mt of steel in August 2015, down 5.8 per cent over 9.3 mt of steel it produced in August last year. However, South Korea posted a 4.9 per cent growth in steel output in August this year to 5.9 mt compared to the same month last year.

 

economictimes.indiatimes.com

Other News