Steel Output Falls in all Major Producing Countries
Crude steel output for the 66 countries reporting to the World Steel Association fell by 3.7% year-on-year in to a seven-month low of 131.0 Mt in September. The largest contributor to this in volume terms was a 3.0% drop in Chinese steel output to 66.1 Mt, although there were annual production falls in every major steel producing centre. Japanese (-7.3% to 8.6 Mt) and US (-8.5% to 6.7 Mt) steel output fell sharply in September, while India (-1.4% to 7.3 Mt) saw negative growth for the second month in succession. EU steel production fell by 4.6% to 13.6 Mt, as output fell in Germany (-3.9% to 3.4 Mt), France (-8.5% to 1.3 Mt), Italy (-3.9% to 2.1 Mt) and plunged by over 40% in the UK to 0.6 Mt. Russian and South Korean steel production was down by 3.2% and 2.7% in September, to 5.5 Mt and 5.6 Mt, respectively.