World Steel Production
A 4.6% year-on-year decline in Chinese crude steel output in July, to 65.8 Mt, helped to pull global steel output for the same month down by 3.8% to 132.9 Mt, according to the World Steel Association. There were also falls in Japanese (-4.9% to 8.8 Mt), US (-9.1% to 7.0 Mt), Russian (-2.8% to 6.0 Mt) and Taiwanese (-2.8% to 1.9 Mt) steel production. Slower output growth in Germany (+4.7% to 3.6 Mt) and declines in Italy (-11.6% to 1.9 Mt) and France (-1.4% to 1.4 Mt) contributed to an overall slowdown in EU steel production growth (+0.3% to 13.9 Mt). Meanwhile, Indian steel output grew by 1.2% to 7.7 Mt in July, although growth remains below the rates seen at the start of 2015.