Posted on 25 Aug 2022
The 64 countries worldwide under the monthly survey of World Steel Association (WSA) posted a 5.4% on-year decline in their crude steel output to total 1.1 billion tonnes over January-July, according to the association's new data released on August 23.
The on-year drop for the first seven months remained mostly stable against the 5.5% on-year fall for H1.
And for July alone, the 64 countries' total output stood at 149.3 million tonnes, down 6.5% on year or 5.9% lower on month, mainly due to the continuing reduction in crude steel output from the world's top steelmaking country – China last month, Mysteel Global noted.
China scored a 6.4% on-year dip to 81.4 million tonnes of crude steel output in July, with the volume also being 10.3% lower on month, as steel mills had curtailed their production in response to margin losses.
Among the world's top 10 steelmaking countries, India and Iran were the only two that had recorded on-year growths in their crude steel output both for July and the January-July period.
India safeguarded its No.2 ranking with 10.1 million tonnes of crude steel being produced last month, while Iran posted the highest on-year growth at 34.1% to 2 million tonnes for July.
Japan and the U.S., the world's No.3 and No.4 steelmaking countries, churned out 7.3 million tonnes and 7 million tonnes in their respective steel output in July, down 8.5% and 6.4% on year, according to the WSA data.
Source:Mysteel Global
