World Steel Production Continues to Fall
Global crude steel output continued to fall in August, albeit at a slower rate than in July, dropping by 3.1% year-on-year to 132.2 Mt. Once again a large part of this was due to falling production in China (-3.5% to 66.9 Mt), although there were also large declines in Japanese (-5.8% to 8.8 Mt) and US (-9.7% to 7.0 Mt) output. EU steel production rose slightly in August to 12.2 Mt, largely due to a 10.7% increase in output in Germany to 3.4 Mt, while output in a number of other major European producers fell. Indian steel output continued to rise in August, increasing by 2.8% year-on-year to 7.7 Mt.