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World Steel Production

Steel

World crude steel production fell by 3.1% year-on-year in October to 133.6 Mt, as most major steel producing nations saw further falls in output, according to the World Steel Association. China (-3.1% to 66.1 Mt), Japan (-3.8% to 9.0 Mt), the US (-8.8% to 6.7 Mt) and South Korea (-5.6% to 5.8 Mt) all saw sharp annual declines in production in October. Meanwhile, in spite of higher output in Germany (+2.7% to 3.6 Mt), EU steel output fell by 3.8% in October, to 14.2 Mt. Russian steel was down 2.4% year-on-year in October, to 5.7 Mt, but Indian output returned to growth, rising by 4.9% to 7.5 Mt.