Source: Scrap Monster
The latest production statistics published by the World Steel Association (wordsteel) suggests notable jump in crude steel output by Asian countries during the month of March this year. The region accounted for more than 70% of the total world steel output during the month.
The Asian crude steel production totaled 109.054 million tons (Mt) in March this year, significantly higher by 7.4% when compared with the production during the year-ago period. The regional output had totaled only 101.546 Mt during March last year. The combined output during the first three months of the current year was up by 7.0% year-on-year to total 312.859 Mt.
China- the leading producer in the region reported 10% surge in output. The country accounted for nearly 74% of the total regional output during the month. The Chinese output totaled 80.326 Mt. India continued to remain as the second largest steel producer in the region, pushing Japan to third spot by a thin margin. The Indian production totaled 9.412 Mt, whereas Japan produced 9.084 Mt. The Indian output declined marginally by 1%, whereas the Japanese output held flat when compared with the year-ago month. The top three producers accounted for almost 91% of the total monthly output by the Asian region.
The March ’19 steel output by other countries in the region was: South Korea (6.266 Mt), Taiwan (2.030 Mt), Vietnam (1.395 Mt), Pakistan (290,000 t) and Thailand (250,000 t).