World Crude Steel Output Falls 13% Y-o-Y in Apr’20 Amid Pandemic

World crude steel output of the 64 steel manufacturing nations in Apr’20 aggregated to 137.09 MnT, as per data released by the World Steel Association. On a yearly basis, the same declined by 13% in Apr’20 compared with 157.67 MnT in Mar’19.

The output fell by 7% on a monthly basis in Aofpr’20 as compared to 147.5 MnT in Mar’20. The crude steel output was mainly impacted by the major disruptions in the global trades caused by the COVID-19 pandemic.

SteelMint has analyzed the crude steel output of top steel-producing countries which are mentioned below:

— China’s crude steel output increased by 8% in Apr’20- China’s crude steel production stood at 85.03 MnT in Apr’20, increasing by 8% as against 78.98 in the previous month. The gradual resumption of the downstream industries after easing of the lockdown in the nation along with the steel manufacturers increasing their production capacity led to a rise in the crude steel output.

— India’s crude steel output fell significantly in Apr’20- Indian crude steel output witnessed a massive fall of 64% and stood at 3.14 MnT in Apr’20 in contrast with 8.65 MnT in the preceding month. The extension of the lockdown due to COVID-19 had led to lower capacity utilization by the steel producers. This is being attributed to the fall in the production volume.

— Japan’s crude steel output fell by 19% in Apr’20- Japanese crude steel output stood at 6.62 MnT in Apr’20, declined by 19% as compared to 8.2 MnT in the previous month.

— United States crude steel output fell by 31% in Apr’20- United States crude steel output declined significantly by 31% to 4.97 MnT in Apr’20, as against 7.22 MnT a month ago.

— Crude steel production of other top steel-producing nations in Apr’20- Russia- 4.70 MnT, South Korea- 5.50 MnT, Germany- 3.00 MnT, Turkey- 2.25 MnT, Brazil- 1.81 MnT, and Iran- 1.79 MnT in Apr’ 20.

Source: WSA website, SteelMint Research