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

Global crude steel production across the 64 countries covered by the Worldsteel Association decline by 8.7pc in May to 148.8mn mt compared to the same month last year.


In Asia, India saw the steepest decline in crude steel production—down by 39.1pc on an annual basis to 5.8mn mt in May. This was followed by Japan with a 31.8pc drop in crude steel output in last month to 5.9mn. South Korea recorded a 14.1pc decline to 5.4mn mt in crude steel production in May compared to the same period last year. However, China saw a 4.2pc increase in crude steel output, reaching 92.3mn mt last month compared to May 2019. 


In the EU, crude steel production in May 2020 fell by 26.8pc to 10.5mn mt compared to May 2019. The US also witnessed a 36.6pc decline to 4.8mn mt during the same period. 


Brazil’s crude steel production decreased by 22.6pc to 2.2mn mt, while Turkey’s crude steel output dropped by 25.8pc to 2.2mn mt last month. 


Crude steel production in the CIS saw a 7.6pc decline to 8.2mn mt, while Ukraine saw a 10.4pc drop to 1.6mn mt in May 2020 from May 2019, according to worldsteel. 


The current figures presented are estimated numbers collected from most of the countries due to the pandemic. worldsteel will give out firm figures in next month’s release. 

Leave a Reply

Your email address will not be published.