Global crude steel production decreased by 1.2 percent in August
According to World Steel Association data, global crude steel production decreased to 144.2 million tons in August.
Quick Look
- According to World Steel Association data, global crude steel production decreased by 1.2 percent in August compared to the same month last year, falling to 144.2 million tons.
- While the decrease in production in China was effective, Türkiye maintained its growth trend in the first 8 months of the year.
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Why It Matters
The World Steel Association monitors and reports global steel production data on a monthly basis.
Global crude steel production decreased by 1.2 percent in August compared to the same month last year, due to the decline in China, the largest producer, and reached 144.2 million tons.
World Steel Association (worldsteel) announced crude steel production data for August.
Accordingly, global crude steel production decreased by 1.2 percent in the eighth month of the year compared to the same period last year, reaching 144.2 million tons.
During the said period, the production of China, the world's largest steel producer, decreased by 3.7 percent to 74.6 million tons. India, on the other hand, increased its production by 4.6 percent to 14.8 million tons.
Among other leading producers, the estimated production in the USA increased by 3 percent to 7.3 million tons, and in Japan increased by 0.4 percent to 6.7 million tons.
According to estimated data, Russia's production decreased by 0.3 percent to 5.5 million tons, while South Korea increased its production by 2.6 percent to 5.4 million tons.
Türkiye MAINTAINED ITS STRONG GROWTH IN 8 MONTHS
Turkey realized crude steel production in August at 3.4 million tons, with a limited decrease of 0.4 percent compared to the same month last year.
In the same period, Germany's production increased by 1.7 percent and reached 2.6 million tons, while Brazil's production decreased by 6.2 percent to 2.7 million tons.
Vietnam, which achieved the highest monthly increase among the top 10 producers, increased its production by 36.4 percent to 2.7 million tons.
GLOBAL CRUDE STEEL PRODUCTION EXCEEDED 1.2 BILLION TONS IN 8 MONTHS OF THE YEAR
Worldwide crude steel production decreased by 0.7 percent in the January-August period compared to the same period last year, reaching 1 billion 225.2 million tons.
In the said period, the production of China, one of the top countries in global steel production, decreased by 3.1 percent to 651.9 million tons, while India's production increased by 6 percent to 115.9 million tons.
In the same period, the estimated production in the USA increased by 5.5 percent to 57.5 million tons, while in Japan it decreased by 0.2 percent to 54 million tons. According to estimated data, while Russia's production decreased by 5.1 percent to 43.8 million tons, South Korea increased its production by 2.8 percent to 42.8 million tons.
Türkiye, on the other hand, increased its crude steel production by 6.8 percent to 26.6 million tons in the January-August period compared to the same period last year and maintained its strong growth trend.
8-month production in Germany, one of the important producers, increased by 6.3 percent to 23.9 million tons, and in Brazil, decreased by 1.8 percent to 21.8 million tons.
Vietnam, which had the highest performance among the top 10 countries, increased its 8-month total production by 29.1 percent to 20.6 million tons.
Open Questions
- It is unclear whether the decline in production in China will continue until the end of the year.
