Source: Scrap Monster
The monthly production data published by the World Steel Association (worldsteel) suggests 2.3% rise in output by countries in the Asian region during the opening month of the current year. The regional production growth outclassed the world growth rate, which stood at 1.0% during the month. The growth in production was mainly led by China, Vietnam and Taiwan.
The crude steel production by Asian countries totaled 102.554 million tonnes (Mt) in January this year, higher by 2.3% when compared with the production of 100.241 Mt in January 2018. The Chinese crude steel output surged higher by 4.3% year-on-year to total 75.013 Mt. The country accounted for more than 73% of the total regional monthly production. It must be noted that the Chinese output had totaled only 71.887 Mt in Jan ’18.
India emerged as the second largest regional crude steel producer. The Indian output totaled 9.180 Mt, marginally lower by 1.9% when compared with the output of 9.026 Mt in January 2018. The crude steel production by Japan declined significantly by 9.8% over the previous year. The Jan ’19 production totaled 8.141 Mt. This compares with the production of 9.026 Mt in January last year.
Apart from China, only Vietnam and Taiwan recorded increased output. On the contrary, Pakistan’s crude steel output tumbled by almost 35%. Thailand too reported 18.3% decline in production. The South Korean production recorded marginal decline by 1.5% when compared with January 2018.