Global steel production up August 2016
Published by Jonathan Rowland,
Editor
Dry Bulk,
Crude steel production for August 2016 for the 66 countries reporting to the World Steel Association (worldsteel) was 134.1 million t – a 1.9% rise on August 2015.
According to worldsteel’s latest monthly production report, China saw a 3% rise in steel production to 68.6 million t. Other leading Asian steel producers also saw growth with Indian production recording strong growth of 9.4% to reach 8.1 million t, placing the country third behind Japan on the global rankings.
Japanese output grew by a more modest 1.5% to 8.9 million t, while its East Asian neighbour, South Korea, registered growth of 1.8% to 5.9 million t.
Beyond Asia, Turkey registered strong growth of 12.9% to reach production of 2.9 million t. Staying in Europe, German and Italian production also grew by 2.4% and 7.4%, respectively. Spanish production fell by 11.8%, however, while Russian and Ukrainian production also dropped.
In the Americas, US production fell 3.4% on the previous year to 6.7 million t, while Brazilian output fell 1.1% to 2.7 million t.
Crude steel capacity utilisation ratio stood at 68.5% globally – up from 68% in August 2015 and 68.4% in July 2016. The steel capacity utilisation ratio is based on crude steel production information and OECD capacity estimates.
Members of worldsteel represent about 85% of the world’s steel production, including over 150 steel producers, national and regional steel industry associations and steel research institutes.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/06102016/global-steel-production-up-august-2016/
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