Posted on 26 Sep 2024
Crude steel output among the 71 countries surveyed by the World Steel Association (WSA) retreated faster by 6.5% on year to reach 144.8 million tonnes in August, as against the 5.1% on-year fall for July, according to the association's latest release on Tuesday.
Meanwhile, the August output was also 4.9% lower than that in July and registered a third monthly drop in a row, Mysteel Global calculated based on the WSA statistics.
For the first eight months, total crude steel production among the 71 countries slipped by 1.5% on year to 1.25 billion tonnes, according to the WSA data.
As the world's largest steelmaking country, China posted on-year declines for both August and the accumulative January-August period, down 10.4% and 3.3% respectively to 77.9 million tonnes and 691.4 tonnes, the WSA data indicated.
In addition, Japan, Russia and South Korea among the top 10 steel-producing countries worldwide also saw their output dip on year in the past month and over January-August, Mysteel Global noted from the release.
In contrast, India, the world's second-largest steel-producing country, reported higher production on year both for August and the past eight months, rising by 2.6% and 6.5% respectively to 12.3 million tonnes and 98.5 million tonnes, according to the official statistics.
Meanwhile, Germany, Türkiye and Brazil among the top 10 posted on-year rises as well in their crude steel output for last month and January-August, the release indicated. Particularly, Türkiye recorded double-digit on-year gains in steel output for both August and this year's first eight months, up 13.8% and 14.8% respectively at 3.1 million tonnes and 24.8 million tonnes.
Crude steel output of the world's top 10 steelmaking countries | ||||
Country | Aug 2024 | Jan-Aug 2024 | ||
(mln t) | Y-o-Y (%) | (mln t) | Y-o-Y (%) | |
Total 71 | 144.8 | -6.5 | 1,251.1 | -1.5 |
China | 77.9 | -10.4 | 691.4 | -3.3 |
India | 12.3 | 2.6 | 98.5 | 6.5 |
Japan | 6.9 | -3.9 | 56.7 | -2.9 |
U.S. | 7.0 | 0.7 | 53.8 | -1.7 |
Russia (e) | 5.8 | -11.5 | 48.5 | -4.9 |
South Korea | 5.5 | -2.2 | 42.5 | -5.5 |
Germany | 2.9 | 0.5 | 25.4 | 4.0 |
Türkiye | 3.1 | 13.8 | 24.8 | 14.8 |
Brazil | 3.0 | 7.3 | 22.4 | 3.8 |
Iran | 1.4 | -9.9 | 19.8 | 1.9 |
(e): estimated, source: WSA | ||||
Source:Mysteel Global
