World steel production for the 66 countries represented by the International Iron and Steel Institute (IISI) increased by 2,9% to 112,2-million tons in August, compared with 108,1-million tons a year earlier.
The world moving annual total (MAT) growth rate slowed to 5,5% for August, compared with 5,8% in July. The IISI said that the MAT growth rate had remained at 5,8% for the past four months.
Production in South America increased by 7,4% to 4,4-million tons in August this year, compared with 4,1-million tons in August last year, with Brazil's production having increased by 6,9% to 3,1-million tons for the month, compared with 2,9-million tons the year before.
North America's production grew by 6,5% to 11,7-million tons, compared with 11-million tons the year before, while the North American MAT growth rate increased to 6% for the month, compared with 5,4% in July. This had been the ninth consecutive monthly increase in North America's MAT growth rate.
The IISI reported that Asia's production had risen by 2,4% to 63,8-million tons in August this year, compared with 62,3-million tons in August 2007.
At 42,6-million tons, China's production for August was 1,3% higher than the 42-million tons produced in August 2007, while its MAT growth rate had also slowed further to 8,6%.
China's highest MAT growth rate had peaked at 26,3% in January 2006.
Crude steel production in India had risen by 6,9% to 4,7-million tons in August this year, compared with 4,4-million tons the year before.
Further, the European Union's production increased by 1,8% to 15,8-million tons for August, compared with 15,5-million tons in August 2007. However, the UK reported a 3,5% drop in output to 1,11-million tons, from 1,15-million tons in August last year.
Steel production in Belgium increased by 16,5% to 0,9-million, the IISI reported.
Meanwhile, the total world crude steel production for the first eight months of this year had increased by 5,6% to 926,3-million tons, compared with 877,6-million tons for the first eight months of 2007.