The crude steel output of the 64 steel manufacturing countries in May’20 summed up to 148.78 mn t fell by 9% as against 163.00 t in May’19, as per the data released by the World Steel Association. The output declined in line with production cuts in most of the nations amid concerns over the pandemic.
On the other hand, on a monthly basis, the same increased by 9% in May’20 as compared to 137.10 mn t in Apr’20. This was primarily due to the gradual resumption of production in May compared to Apr’20.
SteelMint has analyzed the crude steel output of top steel-producing nations which are mentioned below:
China- Nation’s steel mills collectively produced 92.27 mn t of crude steel in May’20, marginally up by 4% on yearly basis as against 88.57 mn t in May’19.
On a monthly comparison, the same increased by 9% over 85.03 mn t in Apr ’20. Improved domestic demand led to a gradual ramp-up of steel production capacity in the country.
India- Country’s major steel producers churned out 5.77 mn t of crude steel in May’20, sharply down by 39% in contrast with 9.47 mn t in May’19.
However, the same increased by a whopping 84% on a monthly basis in May’20 when compared with 3.14 mn t a month ago. Steel mills ramped-up production in May’20 after scaling down their production in Apr’20 due to the COVID outbreak.
Japan- Crude steel output summed up to 5.92 mn t in May’20, falling significantly by 32% on yearly basis as against 8.67 mn t in the corresponding month of the previous year.
On a monthly basis, the same fell by 11% in May’20 in comparison to 6.62 mn t in the preceding month. Major steel plants in Japan lowered their steel output because of the sharp drop in steel demand caused by the COVID-19 spread.
United States- The crude steel output plummeted by 37% y-o-y basis in May’20 to 4.79 mn t when compared with 7.55 mn t in May’19.
In similar lines, the same fell by 4% on the month over 4.97 mn t in Apr’20 as the coronavirus pandemic squeezed the demand for steel across major end-use markets such as construction and automotive.
|
Country |
Jan-May’20 |
Jan-May’19 |
Change in % |
May’20 |
Apr’20 |
m-o-m (Change in %) |
May’19 |
y-o-y (Change in %) |
| China |
411.75 |
403.98 |
2 |
92.27 |
85.03 |
9 |
88.57 |
4 |
| India |
35.85 |
47.54 |
-25 |
5.77 |
3.14 |
84 |
9.47 |
-39 |
| Japan |
36.60 |
42.29 |
-13 |
5.92 |
6.62 |
-11 |
8.67 |
-32 |
| United States |
31.33 |
37.07 |
-15 |
4.79 |
4.97 |
-4 |
7.55 |
-37 |
| Russia |
29.85 |
30.23 |
-1 |
6.00 |
4.70 |
28 |
6.30 |
-5 |
| South Korea |
27.41 |
30.07 |
-9 |
5.39 |
5.50 |
-2 |
6.28 |
-14 |
| Germany |
15.27 |
17.31 |
-12 |
2.85 |
3.00 |
-5 |
3.51 |
-19 |
| Turkey |
13.49 |
14.30 |
-6 |
2.27 |
2.25 |
1 |
3.06 |
-26 |
| Brazil |
12.14 |
14.44 |
-16 |
2.19 |
1.81 |
21 |
2.83 |
-23 |
| Iran |
11.44 |
10.30 |
11 |
2.35 |
1.79 |
31 |
2.16 |
9 |
Source: WSA website, SteelMint Research
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