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

Global crude steel production was down by 3.2pc to 1.3bn mt in the first nine months of the year compared to a year earlier, according to the World Steel Association (worldsteel). 


In September, global crude steel production across 64 countries rose by 2.9pc to 156.4mn mt from a year prior.


Asia’s crude steel output rose by 0.2pc to 1bn mt, while the EU’s output declined by 17.9pc to 99.4mn mt in the January to September period of this year from the same time in 2019. worldsteel reported that crude steel output in the CIS also dropped by 2.9pc to 74.3mn mt and North America’s output fell by 18.2pc to 74mn mt in the nine-month period. 


In Asia, China saw a 10.9pc increase in crude steel output to 92.6mn mt, while India saw a 2.9pc drop in production to 8.5mn mt in September from the same month in 2019. Japan’s crude steel production fell by 19.3pc to 6.5mn mt, while South Korea saw a 2.1pc boost in production to 5.8mn mt in September.


In the EU, Germany’s crude steel production decreased by 9.7pc to 3mn mt September from a year earlier, while Italy’s production declined by 18.7pc to 1.8mn mt in. Crude steel output in France and Spain declined by 20.1pc and 20.7pc to 6.5mn mt and 5.8mn mt, respectively, during the period. 


The US saw a 18.5pc drop in crude steel output to 5.7mn mt in September on an annual basis, while Turkey’s output rose by 18pc to 3.2mn mt. Crude steel production in the CIS declined by 0.3pc to 8.2mn mt, and by 5.4pc in Ukraine to 1.7mn mt.


Crude steel production in Latin American countries, excluding Brazil, declined in September on an annual basis, with Argentina, Chile, Colombia, and Mexico reporting the steepest falls.


Brazil was the only Latin American country that saw an increase in crude steel production in September, rising by 7.5pc to 2.57mn mt from 2.39mn mt in September 2019, according to worldsteel.


However, Mexico, the second-largest crude steel producer in the world, saw its crude steel output decline by 3.9pc to 1.40mn mt in September from 1.45mn mt a year earlier.


Argentina’s crude steel output dropped by 11.9pc to 358,000mt in September from 406,000mt, and Colombia steel output dropped by 5.4pc to 110,000mt from 116,000mt.


Chile’s crude steel output also fell by 6pc to 95,000mt in September from 101,000mt, while Peru’s crude steel production plummeted by 70.5pc to 30,000mt from 102,000mt. Ecuador’s steel output declined by 32.6pc to 35,000mt from 52,000mt.



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