Global crude steel output up 3.4% for 2019

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Global crude steel output up 3.4% for 2019

The world’s crude steel output for 2019 grew 3.4% on year to 1.87 billion tonnes in 2019, with the growth is 1.2 percentage point lower than that for 2018, even though China’s steel output scored a higher annual growth for 2019, according to the latest data released by the World Steel Association (WSA).

The global growth rate was less than half of what China achieved, as the world’s top steel production country produced 996.3 million tonnes of crude steel or up 8.3% on the year against the 6.6% annual growth for 2018 in the aspect.

Last year, China’s share in the global steel output scope, thus, grew 2.4 percentage points on year to 53.3%, according to WSA.

India secured its position as the world’s second-largest steel production country for the second straight year in 2019, producing 111.2 million tonnes of crude steel, or up 1.8% on the year.

Japan stayed as the third largest steel producing country though it was the only one in the top three that posted a 4.8% year-on-year decrease in steel output to 99.3 million tonnes last year.

Among the world’s top ten, Iran, ranking the tenth, posted the highest 30.1% year-on-year increase in steel output to about 32 million tonnes for 2019, though the association explained that year-on-year comparison was only for reference, as the basis of Iran’s steel output statistics differed in 2019 from 2018.

Half of the top ten steelmaking countries are located in Asia, and the total steel output from China, India, Japan, South Korea, and Iran grew 5.7% on year to 1.34 billion tonnes or accounting for a dominant 71.7% of the world’s total steel production, Mysteel Global noted, indicating the Asian countries’ growing importance in the world’ ferrous scope.

On the other hand, The European Union countries produced 159.4 million tonne of crude steel, down 4.9% on year, among which Germany’s steel production fell 6.5% on year to 39.7 million tonnes and Turkey posted a decline of 9.6% on year to 33.7 million tonnes respectively, ranking the seventh and eighth respectively in the top ten, which was partly due to the slow-down in the European economic growth and the U.S.’ imposition of duties on Turkey’s steel exports, Mysteel Global understands.

Read the original article on My Steel Global

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