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New High for World Steel Production in October

Steel

Supported by further strong annual growth in both China (+6.1% to 72.4 Mt) and the rest of the world (+5.9% to 72.9 Mt), global crude steel production climbed to a record 145.3 Mt in October, up by 5.7% year-on-year, the World Steel Association reports.

Output increased in almost all major steel producing regions in October, including: Europe (+4.7% to 18.3 Mt), India (+5.3% to 8.6Mt), US (+12.0% to 7.0 Mt), South Korea (+4.0% to 6.2 Mt) and Russia (+5.0% to 6.2 Mt). However, running counter to this trend was Japan, where output fell by -1.0% to 9.0 Mt.

World steel output has now risen on an annual basis for 18 consecutive months, with production in January-October 2017 up by 5.6% year-on-year at 1,410.5 Mt.