Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Global crude steel production increased by 4.1pc to 150.2mn mt in February 2020 compared to the same year-ago month, according to the World Steel Association (worldsteel). Global crude steel production fell by 11.2pc against 169.2mn mt in January.

Crude steel output in Asia and Oceania rose by 7.5pc to 109.7mn mt in February against the same prior-year period. Compared to the same month a year ago, production in the EU declined by 7.1pc to 11.9mn mt, North America’s output fell by 8.9pc to 8.8mn mt, CIS and dropped by 1.5pc to 8.0mn mt.

Production in other European regions climbed by 5.2pc to 3.9mn mt and South America’s output rose by 2.2pc to 3.5mn mt, while crude steel production in the Middle East slipped by 0.9pc to 3.2mn mt, and Africa decreased by 6.4pc to 1.2mn mt.

China’s raw steel output jumped by 10.9pc to 83mn mt in February against the same month a year ago, though India’s crude steel production, fell by 3.1pc to 9.1mn mt.

Japan decreased its crude steel production by 5.6pc to 7.5mn mt while the US’ output shrank by 10.9pc to 6.3mn mt in February compared to the same timeframe in 2020. Russia’s raw steel production fell by 1.3pc to 5.7mn mt and Germany’s output also declined by 10.4pc to 3.1mn mt during the same period.

Some countries grew their production In February 2020 compared to the year-ago month; South Korea’s production increased by 1.2pc to 5.5 mn mt, Turkey’s rose by 5.9pc to 3mn mt, Brazil’s crude steel output rose by 3.8pc to 2.8mn mt, and Iran’s climbed by 11.5pc to 2.3mn mt.

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