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Global Crude Steel Production Growth Falls in September

Steel

World crude steel output contracted on an annual basis for the first time since April 2016 in September, falling 0.3% to 151.5 Mt, according to the World Steel Association. Chinese steel production rose 2.2% year-on-year to 82.8 Mt, while output in the rest of the world fell 3.1% to 68.7 Mt.

Output in Asia, excluding China, also fell year-on-year, with declines in Japan (-4.5% to 8.0 Mt) and South Korea (-2.7% to 5.7 Mt) offsetting a 1.6% increase in Indian steel production to 9.0 Mt. There were also declines in output in the EU (-2.0% to 13.4 Mt) and Turkey (-6.9% to 2.7 Mt). At -2.5%, US steel production experienced its largest decline since October 2016.