Global crude steel production increased by 2.2 per cent in August 2023 to 152.6 million tonnes (mt), against 149.5 mt in the corresponding period a year ago. For the January-August period, production in the 63 nations that account for 97 per cent of world steel output was pegged at 1,256.4 mt, up 0.2 per cent.

According to the World Steel Association, top producer China’s output stood at 86.4 mt in August, up 3.2 per cent from the year-ago period. For the January-August period, China’s output was 2.6 per cent higher at 712.9 mt.

India reported a 17.4 per cent surge in production at 11.9 mt. Overall, for the January-August period, India’s steel output increased by 10.5 per cent at 92.2 mt.

Russian output soars

Russia’s production soared by 8.9 per cent to 6.4 mt. Steel production in Japan and South Korea went down by 2.9 per cent and 5.9 per cent, respectively, to end at 7.1 mt and 5.6 mt. While output in the US increased by 1.1 per cent at 7 mt, Germany’s output declined by 1 per cent at 2.8 mt. Brazil and Turkiye reported production drop of 5.9 per cent and 2.9 per cent, respectively, at 2.7 mt and 2.8 mt year-on-year.

Iran’s production plunged 24.1 per cent at 1.6 mt.

Also read
wildpixel

Crude oil down a tad as market awaits OPEC decision

The EU’s Carbon Border Adjustment Mechanism raises concerns about equity, historical accountability and the paternalistic stance of developed nations imposing policies on countries still in the throes of development

EU’s carbon tax isn’t equitable

MSME firms producing secondary steel need hand holding

Nudging to manage risk

Jindal Steel and Power Managing Director Bimlendra Jha

Jindal Steel & Power’s Gare Palma IV/6 coal mine starts production

comment COMMENT NOW