World Steel Production Falls Further
The pace of annual decline in global crude steel output accelerated in November, falling by 4.1% year-on-year to 126.8 Mt on sharp production falls in several major steel producing regions, according to the World Steel Association. US steel production continued the downward trend in evidence for much of 2015, plunging 15.6% to 6.1 Mt in November, while Russian steel output dropped by 3.1% to 5.7 Mt. EU steel output fell by 7.5% in November to 13.2 Mt as production decreased sharply in France (-14.7% to 1.2 Mt) and the UK (-32.6% to 0.7 Mt). Steel output also declined in Germany (-3.1% to 3.5 Mt) but rose slightly in Italy (+0.4% to 1.9 Mt). Meanwhile, in Asia, China (-1.6% to 63.3 Mt), Japan (-4.7% to 8.7 Mt) and South Korea (-0.5% to 5.9 Mt) all saw output decline, while Indian steel production, which has risen 2.8% in the year to date, fell by 0.2% in November to 7.1 Mt.