Global Crude Steel Production Continues Lower in June
Global crude steel output contracted for a fourth month in a row, falling by 7% year-on-year to 148.3 Mt in June because of coronavirus related challenges, data from the World Steel Association show, while production in the 1h20 declined by 6% year-on-year to 873.1 Mt.
Mitigating weaker production in the rest of the world, Chinese crude steel output edged up by 4.5% to 91.6 Mt, with industry association data indicating production has remained robust in July. Crude steel production at China Iron and Steel Association (CISA) member mills remained strong in the first 20 days of July, averaging 2.13 Mt/day.
Production in the world excluding China dropped by 21% to 56.7 Mt in June, although narrowed from wider annual declines in April-May. Indian crude steel production rose slightly on the month, but dropped by 26.3% on the year to 6.9 Mt. US and combined EU/UK output was down by 34.5% and 24.6%, respectively.