World crude steel output up 0.6 percent in October

29 November, 2023 by
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According to the latest data released by the World Steel Association (Worldsteel), global crude steel production demonstrated resilience, posting a 0.6% year-on-year increase in October. Despite a minor month-on-month decline of 0.3%, the overall output reached 150 million metric tons.

For the January-October period of this year, the global crude steel production figure stood at 1.57 billion metric tons, reflecting a 0.2% year-on-year growth. In the Asian region, October witnessed a total crude steel output of 108.8 million metric tons, showing an increase of 0.8%. Notably, China, a key player in the global steel market, contributed 79.1 million metric tons, experiencing a 1.8% decline. Meanwhile, Japan saw a 2.6% rise to 7.5 million metric tons, India surged by 15.1% to 12.1 million metric tons, and South Korea moved up by 6.5% to 5.5 million metric tons - all compared on a year-on-year basis.

The EU-27 countries faced a 7.1% year-on-year decline, producing 10.6 million metric tons of crude steel in October. Within the EU, Germany's output decreased by 8.8% to 2.9 million metric tons. Turkey, on the other hand, showcased a 4.2% increase, reaching 3 million metric tons.

The CIS region demonstrated substantial growth, registering a 12.9% year-on-year increase in crude steel output, totaling 7.4 million metric tons. Russia, a major contributor, marked a 9.5% rise to 6.3 million metric tons.

North America maintained stability in October, with a total crude steel output of 9.3 million metric tons. The United States, a significant player in the region, recorded a 3.4% year-on-year growth, producing 6.8 million metric tons.

In South America, October's crude steel output decreased by 8.7% to 3.4 million metric tons. Brazil, a key steel producer in the region, saw its output fall by 10.2% to 2.6 million metric tons.

Africa recorded a 3.5% year-on-year increase in crude steel production, reaching 1.9 million metric tons in October. Meanwhile, the Middle East displayed a 5.0% growth, totaling 5.0 million metric tons.

The global steel industry's performance in October underscores the dynamic nature of regional markets and the ongoing challenges and opportunities faced by key players worldwide.

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