Posted on 24 Nov 2022
The 64 countries worldwide under the monthly survey of World Steel Association (WSA) posted a 3.9% on-year decline in their total crude steel output to 1.55 billion tonnes over January-October, according to the latest data released by the association on November 22. The on-year fall for the past 10 months was slightly smaller than the 4.3% drop for January-September period.
For October alone, the 64 countries' total steel output remained unchanged on year at 147.3 million tonnes, though the tonnage was 2.8% lower on month after rising for two months, Mysteel Global noted from the WSA release.
Behind the on-month dip in global crude steel production was that China, the world's top steel-producing country, posted an 8.3% on-month decline in steel output for October to 79.8 million tonnes, as Chinese steel producers had trimmed output on squeezed margins or losses. However, China's crude steel output last month was still higher by 11% on year, the WSA data showed.
As for January-October, China produced some 860.6 million tonnes of crude steel, down 2.2% on year or contributing to 55.4% of the world's total, Mysteel Global calculated based on the latest data.
Elsewhere, total steel output in other 63 countries under WSA's tracking decreased by 10.4% on year to reach 67.6 million tonnes in October, as against 64.7 million tonnes for September.
Among the world's top 10 steelmaking countries, both India in the 2nd ranking and Iran in the 10th managed to post on-year growths in their crude steel output over January-October, with the volume up by 6.1% and 9% respectively, Mysteel Global noted from the WSA data.
Source:Mysteel Global
