ACCOUNT PROFILE

China Produced 78% of Asia's Crude Steel in 2020

Posted on 29 January 2021

The steel production statistics published by the World Steel Association (worldsteel) suggests nearly 1.6% marginal surge in output by Asian region during the previous year. Among key regional producers, China recorded increased output, whereas the output by Japan and India were down, compared with 2019.

The Asian crude steel production totalled 1.351 billion tonnes in 2019, higher by 1.6% when compared with the production of 1.330 billion tonnes in the prior year. The Chinese crude steel output totalled 1.053 billion tonnes, recording a surge of 5.2% over the previous year. The country accounted for more than 78% of the total regional production during the year.

India continued to remain as the second largest producer in the region, with an output totalling 99.570 Mt, down by 10.6% when matched with the previous year. In third place was Japan with yearly output of 83.194 Mt. The Japanese output recorded sharp decline by over 16%, when matched with 2019.

Among all countries in the region, Pakistan and Vietnam reported notable year-on-year surge in steel production. Pakistan saw its output soar by 13.3%, whereas Vietnam recorded 11.6% surge in 2020 output.

The Asian crude steel production totalled 118.616 Mt during Dec ‘20. The leading producers during the month were China (91.252 Mt), India (9.796 Mt), Japan (7.526 Mt), South Korea (5.952 Mt) and Taiwan (1.700 Mt).

Source : Scrap Monster