Economy

China’s steel production drops for 3rd consecutive month in September

Our Bureau Chennai | Updated on October 27, 2021

21.2% decline pulls down global output by 9%, India records 7.2% growth

China’s crude steel production dropped by 21.2 per cent in September this year, dragging global steel production by nearly nine per cent year-on-year, according to the World Steel Association.

This is the third consecutive month that China’s crude steel production has dropped. It is the highest decline after the ferrous metal’s output declined 8.4 per cent in July and 13.2 per cent in August.

In its production data for September, the association said world steel production in 64 countries reporting to it was 144.4 million tonnes (mt), a decline of 8.9 per cent compared with the same period a year ago.

For the first three quarters, global production has been projected at 1.46 billion tonnes, a 7.8 per cent increase year-on-year.

Though China was the top producer of crude steel in September, its production was, however, lower at 73.8 mt compared with the year-ago period. For the January-September period, its production is up two per cent at 805.9 mt year-on-year.

India is the second largest producer for September as well as during the first three quarters. Its production last month has been pegged 7.2 per cent higher at 9.5 mt, while for the January-September period the output has been put at 87.3 mt, up 23 per cent year-on-year.

Japan, which produced 8.1 mt in September, recorded the highest growth at 25.6 per cent, while the US, which produced 7.3 mt, registered a 22 per cent jump in output. For the January-September period, their production has been estimated at 72.1 mt (up 17.9 per cent) and 64.4 mt (up 19.8 per cent), respectively.

Published on October 27, 2021

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