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

Global crude steel production across 64 countries rose by 2.8pc to 143.3mn mt in February 2020 compared to same time last year, according to the latest worldsteel data. 


In Asia, China had the highest increase of 5pc at 74.8mn mt in February this year compared to February 2019, followed by a 2.2pc growth in Japan to 7.9mn mt and a 1.5pc rise in India to 9.6mn mt in February 2020 compared to the same month last year. 


Italy was the only country in the European Union where production increased in February. The country’s crude steel output rose by 0.1pc to 2mn mt. Production in France decreased by 1.3pc to 1.2mn mt during the same comparative period while output in Germany decreased by 12pc to 2.9mn mt and by 11.6pc to 586,000mt in the UK during this time. 


Production increased by 8.2pc in Turkey to 2.9mn mt  while Serbia saw a 3.4pc production decrease to 136,000mt in February 2020 compared to the same month in the previous year. 


In North America, production increased by 3pc in the US to 7.2mn mt while Canada saw a 2.5pc fall in crude steel output to 1.02mn mt in February 2020 compared to same time in 2019. 


Crude steel production also declined in Russia to 5.6mn mt in February 2020, a 2.3pc drop from the same period last year, while Ukraine’s production increased by 1.2pc to 1.7mn mt in February 2020 compared to February 2019. 


Crude production fell across Latin America in February due to lower output from Mexico, Brazil, Chile, Colombia, and Ecuador.


The steepest production dip was seen in Mexico where output declined by 19.3pc to 1.3mn mt. Brazil’s steel production dropped by 1.3pc to 2.7mn mt in February compared to the same month in the previous year.


Crude steel output in Colombia fell by 8.9pc to 100,000mt, while Chile’s production fell by 12.6pc to 75,000mt, and Ecuador’s declined by 3.7pc to 50,000mt in February 2020 compared with February 2019.


Crude steel production in Argentina increased by 8pc to 344,000mt and by 4.7pc to 95,000mt in Peru during the same comparable period.

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