Global Crude Steel Production Drops in July

Steel

Global crude steel output contracted for a fifth consecutive month, easing 2.5% year-on-year to 152.7 Mt in July because of continued challenges during the COVID-19 pandemic, according to the World Steel Association. However, the rate of annual decline slowed from 6.8% in June.

Recovery in China has supported global output, with the country’s crude steel production climbing to a record high of 93.4 Mt last month (+9.1%).

Production in the world excluding China fell 16.5% to 59.3 Mt in July, although outright production was a four-month high and the annual decline slowed slightly from 20.5% in June. Indian crude steel production declined 24.6% to 7.2 Mt. US output fell 29.4% on the year to 5.2 Mt last month, while combined EU/UK production was down 24.4% to 9.8 Mt.