WSA: Global Jan-Feb steel output up 3% on year
During February, the 71 countries produced 148.8 million tonnes of crude steel, higher by 3.7% on year, according to WSA. Meanwhile, last month's output was lower by 5.8% from January, Mysteel Global calculated.
China – the world's largest steelmaking country – was expected to see a 3.5% on-year climb in its crude steel output in February, to reach 81.2 million tonnes, the WSA indicated. During January-February, China's crude steel output gained 1.6% on year to 168 million tonnes, data from the country's National Bureau of Statistics released last Monday showed.
Meanwhile, according to WSA, India remains the world's second-largest steel-producing country. The association's statistics show that India was one of three countries among the top 10 steelmakers that posted double-digit on-year gains in steel output for both February and for this year's first two months, up 11.4% and 10% respectively at 11.8 million tonnes and 24.5 million tonnes.
The U.S. and Russia, the world's No.4 and No.5 steelmaking countries, both saw their crude steel output decline in February and during the January-February period.
In contrast, Türkiye posted a 46.6% on-year jump in its steel output last month while its output for the first two months also swelled by 34.5% on year, according to the association's data.
Crude steel output of the world's top 10 steelmaking countries | ||||
Country | Feb 2024 | Jan-Feb 2024 | ||
(mln t) | Y-o-Y (%) | (mln t) | Y-o-Y (%) | |
Total 71 | 148.8 | 3.7 | 306.9 | 3.0 |
China (e) | 81.2 | 3.5 | 168.0 | 1.6 |
India | 11.8 | 11.4 | 24.5 | 10.0 |
Japan | 7.0 | 1.1 | 14.3 | 0.8 |
U.S. | 6.5 | -1.2 | 13.0 | -2.6 |
Russia (e) | 5.7 | -4.4 | 11.7 | -3.2 |
South Korea | 5.1 | -1.5 | 10.8 | 0.2 |
Türkiye | 3.1 | 46.6 | 6.3 | 34.5 |
Germany | 3.1 | 4.4 | 6.2 | 4.6 |
Brazil | 2.8 | 13.1 | 5.5 | 6.4 |
Iran | 2.2 | 14.3 | 4.8 | 26.5 |
(e): estimated, source: WSA
Written by Rong Zhang, zhangronga@mysteel.com
Edited by Russ McCulloch, russ.mcculloch@mysteel.com
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