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EU Steel Output Rises as Global Production Falls

Steel

A 2.4% drop in global steel production to 135.6 Mt in June was recorded by the World Steel Association. Although EU crude steel output rose 1.7% year-on-year to 14.6 Mt on rising output in Germany (+5.8% to 3.8 Mt), this was countered by falls elsewhere. There were sharp drops in US (-8.5% to 6.7 Mt) and Russian (-7.5% to 5.6 Mt) steel output, while in Asia South Korean (-3.6% to 5.9 Mt) production also declined and previously strong growth in India (+0.8% to 7.4 Mt) slowed. As previously reported, steel production in both China (-0.8% to 68.9 Mt) and Japan (-6.2% to 8.6 Mt) also fell in June.