Global steel production up 6.3% y/y in July
Global steel production increased by 6.3% year-on-year to 143.2-million tonnes in July.
The World Steel Association (worldsteel) on Thursday reported that China’s crude steel production had increased by 10.3% year-on-year to 74-million tonnes, while India’s output increased by 3.5% year-on-year to 8.4-million tonnes and South Korea’s production increased by 2.3% year-on-year to 6.2-million tonnes.
Japan’s crude steel output, however, decreased by 4.3% year-on-year to 8.6-million tonnes.
Production in the US increased by 5.6% year-on-year to 7.1-million tonnes.
Germany’s production increased by 3.6% year-on-year to 3.5-million tonnes, while Turkey’s output grew by 27.8% year-on-year to 3.3-million tonnes.
SOUTH AFRICA DIPS, EGYPT JUMPS AHEAD
Meanwhile, Africa’s production increased by 4.2% year-on-year to 1.09-million tonnes. South Africa’s crude steel production decreased by 6.3% year-on-year to 493 000 t, compared with 526 000 t in July 2016, while Egypt’s output increased by 19.5% year-on-year to 535 000 t, compared with 448 000 t in July 2016.
Worldsteel also reported that the crude steel capacity utilisation ratio stood at 72.1% in July, 3.2 percentage points higher than in July 2016, but 1.5 percentage points lower than in June this year.
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