World Steel output slips by 3% in October on weak demand
By T. Moharana
Bhubaneswar : World Crude steel production dropped by 2.8% to 151.5 million tonnes (Mt) in October 2019 due to lower output by all leading steel producing countries, according to a monthly report by Worldsteel. In September, World crude steel output had dropped by 0.3% to 151.5 Mt.
While, China, the world’s top steel producer with over 700 MTPA capacities, has reported marginal 0.6% drop in production to 81.5 Mt, India’s steel output has dropped by 3.4% to 9.1 Mt in October.
Meanwhile, Japan, the 3rd largest producer of the alloy has reported 4.9% drop in crude steel production at 8.2 Mt. South Korea’s crude steel production was 6.0 Mt in October 2019, a decrease of 3.5% on October 2018.
In the EU, Germany produced 3.3 Mt of crude steel in October 2019, down by 6.8% on October 2018. Italy produced 2.2 Mt of crude steel in October 2019, down by 3.7% on October 2018. France produced 1.2 Mt of crude steel in October 2019, a 10.6% decrease compared to October 2018. Spain produced 1.2 Mt of crude steel in October 2019, down by 7.6% on October 2018.
The US produced 7.4 Mt of crude steel in October 2019, a decrease of 2.0% compared to October 2018. Brazil’s crude steel production for October 2019 was 2.6 Mt, down by 19.4% on October 2018. Turkey’s crude steel production for October 2019 was 2.7 Mt, down by 15.0% on October 2018. Crude steel production in Ukraine was 1.6 Mt this month, down 12.7% on October 2018.