World crude steel output up 0.6 percent in October

29 November, 2023 by

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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