World crude steel production saw a 5.6% increase its biggest ever in months to 141.4 million tonne (mt) in September 2017, compared to September 2016. India, which is tipped to topple Japan and emerge as the second largest global steel producer after China, maintained its momentum, producing 8.2 mt of steel in September 2017 up 1.9% over last year and just a shade below Japan which reported 8.6 mt of crude steel output in September 2017 growing at 2% over September 2016.

In its latest report, the World Steel Association which collates production data for 66 countries reporting to it, said in the first nine months of 2017, India produced 75.2 mt of steel, up 5.7% over 71.2 mt in January-September 2016. Compared to it, Japan’s steel output in the period under review (January -Sept 2017) went down marginally by 0.2% to 78.2 mt over January-September 2016. Elsewhere in Asia, China, the world’s largest steel producer, posted a crude steel output of 71.8 mt, in September 2017, an increase of 5.3% compared to September 2016.

In the first nine months of 2017, world crude steel production was 1,266.9 mt up by 5.6% compared to the same period in 2016. Asia produced 876.3 mt of crude steel, an increase of 5.9% over the first nine months of 2016. The EU produced 126.4 mt of crude steel in the first nine months of 2017, up by 4.1% compared to the same period of 2016. North America’s crude steel production in the first nine months of 2017 was 86.7 mt, an increase of 3.5% compared to the first nine months of 2016. The C.I.S. produced 76.4 mt of crude steel in the first nine months of 2017, the same amount it produced over the same period of 2016.

In the EU, France produced 1.3 mt of crude steel in September 2017, an increase of 3.2% compared to September 2016. Italy’s crude steel production for September 2017 was 2.2mt, up by 8% on September 2017. Spain produced 1.3mt in September 2017, an increase of 6.7% on 2016. Turkey’s crude steel production for September 2017 was 3.0 mt, up by13.0% on September 2016.

The US produced 6.7 mt of crude steel in September 2017, an increase of 8.6% compared to September 2016. Brazil’s crude steel production for September 2017 was 3.0 mt, up by 7.6% on September 2016. The crude steel capacity utilisation ratio of the 66 countries in September 2017 was 73.5%. This is 2.8 percentage points higher than September 2016. Compared to August 2017, it is 0.6 percentage points higher.

 

Source:economictimes.indiatimes.com

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