World Crude Steel Output Surged 6.6% Till February
Posted on 26 March 2021
The world crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) totalled 315.0 million tonnes (Mt) during the initial two-month period of the current year. This is higher by 6.6% when compared with the production during the corresponding two-month period in 2020.
The largest regional producer of steel during the period was Asia and Oceania region, which recorded a cumulative output of approximately 230.8 Mt. The region accounted for over 73% of the total global production. The regional output surged higher by 10.1% over the previous year. The second largest producer was the block of EU-27 countries, whose output recorded notable year-on-year decline by 3.7% to 24.1 Mt. In third place was North America with a production of 18.5 Mt. The year-to-date production posted sharp decline by 7.1% over Jan-Feb ‘20.
The CIS region recorded marginal decline by 0.4% in output to 16.8 Mt. The South American output, at 7.3 Mt, was up marginally by 6.6%, when matched with the previous year. The Middle East output was slightly higher by 0.4% to 6.8 Mt. Meanwhile, the African countries witnessed 6.9% decline in output to 2.4 Mt during January to February this year.
It must be noted that the 64 countries included in the list, had accounted for 98% of world’s total crude steel production in 2020.Source : Scrap Monster