Posted on 24 Jun 2022
The 64 major steel-producing countries on the globe saw their crude steel output decline by 6.3% on year to 791.8 million tonnes over January-May, smaller than the 7.1% on-year drop for the first four months, according to the latest data released by World Steel Association (WSA) on June 22.
The 64 countries under WSA's monthly survey contributed to approximately 98% of the world's total crude steel output in 2021, Mysteel Global notes.
As for May alone, these countries posted a 3.5% on-year dip in crude steel output to 169.5 million tonnes, the WSA data showed. The May total was 3.7% higher on month, however.
The world's top steelmaking country China produced 96.6 million tonnes of crude steel in May, slipping 3.5% on year but up 4.1% on month, according to the association.
The on-month rise was chiefly due to the fact that more Chinese steel mills had resumed production after their maintenance stoppages with improved logistics as the country's COVID-19 situation eased, as reported.
India secured its No.2 ranking in terms of output for last month and the accumulative January-May period, totalling 10.6 million tonnes and 53.2 million tonnes. Besides, it was the only country that had achieved the on-year growth among the top 10, rising by 17.3% and 6.5% respectively, according to WSA.
In the past five months, both Japan and the U.S. posted on-year declines in their output, down 3.5% and 1.6% respectively to reach 38.5 and 34.3 million tonnes, according to the official data.
Source:Mysteel Global
