World Crude Steel Output Declines by 8% M-o-M in Feb’20

As per data released by the World Steel Association, 64 steel manufacturing nations collectively churned out 142.39 MnT of crude steel in Feb’20, down by 8% compared with 154.44 MnT in Jan’ 20.

On a yearly premise, the same inched up by 2% in Feb’20 compared with 139.41 MnT in Feb’19.

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

— China’s crude steel output down by 11% in Feb ’20- China’s crude steel production decreased by 11% and stood at 74.77 MnT in Feb’20 as against 84.27 MnT a month ago. Extended new year holidays amid Corona-virus outbreaks resulted to decline in nation’s crude steel output in Feb’20

However, it increased by 5% Y-o-Y in Feb’20 over 71.23 MnT in Feb’19.

— India’s crude steel output up by 3% in Feb’20- Indian crude steel output stood at 9.56 MnT in Jan’20, marginally up by 3% when compared with 9.29 MnT in the preceding month. Meanwhile, the output up by 1% Y-o-Y in Feb’20 as against 9.42 MnT in Feb’ 19.

— Japan’s crude steel output decreases by 4% in Feb’20- Japanese crude steel output stood at 7.92 MnT in Feb’20, decreased by 4% as compared to 8.24 MnT a month ago. However, on a yearly premise, the same increased marginally by 2% in Feb’20 over 7.75 MnT in Feb’19.

— United States crude steel output down by 7% in Feb’20- United States crude steel output reduced by 7% to 7.17 MnT in Feb’20, as against 7.71 MnT a month ago. However, the same moved up by 3% on a yearly premise in Feb’20 over 6.96 MnT in Feb’19.

— Crude steel production of other top steel-producing nations in Feb’20- Russia- 5.62 MnT, South Korea- 5.38 MnT, Germany- 2.92 MnT, Turkey- 2.85 MnT, Brazil- 2.70 MnT, and Iran- 2.71 MnT in Feb’ 20.

Quantity in MnT
Source: SteelMint Research