Global steel output up by 3.7% in February

Global crude steel production went up by 3.7 per cent in February 2024 to 148.8 million tonnes (mt) against 143.6 mt in the corresponding period a year ago.

For the January-February period, production in the 71 nations that account for 85 per cent of world steel output was pegged at 306.9 mt, up 3 per cent.

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According to the World Steel Association, top producer China’s output increased to 81.2 mt in February, up by 3.5 per cent from the year-ago period. India reported a surge of 11.4 per cent rise in production at 11.8 mt. 

Russian output down

Turkey’s production soared 46.6 per cent to 3.1 mt. Iran’s production climbed up by 14.3 per cent at 2.2 mt. While output from Russia decreased by 4.4 per cent at 5.7 mt, South Korea’s output saw a fall 1.5 per cent at 5.1 mt. Japan’s production went up slightly by 1.1 per cent at 7 mt.

The United States saw its output dip by 1.2 per cent while Germany saw its production gain by 4.4 per cent year-on-year, at 6.5 mt and 3.1 mt, respectively. The steel output in Brazil saw a steep rise going up by 13.1 per cent at 2.8 mt.

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Region-wise, Africa saw their output rise steeply by 8.1 per cent. While EU saw its numbers dip by 3.3 per cent, while Europe (Others)‘s production saw its output go north by huge 32.5 per cent.

Asia and Oceania’s steel production grew by 3.9 per cent. The Middle-East region’s production went up by a 10.8 per cent while North America’s output decreased by 1.3 per cent.

South America’s steel production surged by 10.5 per cent compared with February 2023 figures. Russia and other CIS nations saw their figures go down by 2.5 per cent.

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