According to the latest data released by Word Steel Association (WSA), the total crude steel production of 66 steel manufacturing countries plummeted by 6% M-o-M basis to 136.28 MnT in Nov’17 against 144.97 MnT in Oct’17.
However, if Y-o-Y comparison is made, then the world crude steel output has registered an increase of 3.1% as the same stood at 132.09 MnT in November last year.
During the first eleven months of (Jan-Nov) of CY17, world crude steel output summed up to 1,536 MnT up by 4.2% against 1,474.8 MnT in corresponding period of previous year.
WSA data shows that the global capacity utilisation rates at mills rose to 70.7% in Nov’17 against 69.2% in Nov’16, indicating improvement in capacity utilisation levels due to capacity cuts in China.
SteelMint has analyzed world’s crude steel production numbers of major steel producing countries –
China’s crude steel output falls by 8.5% M-o-M basis in Nov’17-China’s crude steel output registered a fall of 8.5% M-o-M basis from 72.36 MnT in Oct’17 to 66.15 MnT in Nov’17. As per the market sources, China has ordered the steel mills and coke plants in 28 cities to cut down production between 15 Nov’17 to 15 Mar’18 In order to help the country to clear its smoggy skies. As the production cuts were made starting from mid November, its major impact is likely to be seen in the month of December.
The production cut has impacted the prices of Chinese steel positively as the current demand of steel from southern region is quite stronger thus, helping the steel prices to lift by 10% against last month and by 50% since the start of year 2017.
On yearly basis, China’s crude steel production registered an increase of of 2.02% in as the same stood at 64.72 MnT in Nov’16 against 66.15 MnT in Nov’17.
From Jan-Nov’17 nation’s crude steel output surged by 3.19%% to 764.80 MnT against 741.15 MnT34.74 in similar time fame of previous year.
Japan’s crude steel output falls by 3.0% M-o-M basis in Nov’17-In Nov’17 nation’s crude steel registered a fall of 3% M-o-M basis to 8.70 MnT in Nov’17 against 8.97 MnT in Oct’17. However, if yearly comparison is done the the Japan’s crude steel production increased marginally by 0.9% from 8.62 MnT in Nov’16 against 8.70 MnT in Nov’17.
In time span of Jan-Nov of CY17 nation’s crude steel output fell slightly by 0.1% to 95.93 MnT against 96.06 MnT in corresponding period of previous year.
India’s crude steel output tumbled by 3.5% M-o-M in Nov’17-According to data released by World Steel Association, India’s crude steel output stood at 8.35 MnT in Nov’17 against 8.63 MnT in Oct’17. However, on yearly basis India’s crude steel output rose by 4.11% in Nov’17 which was at 8.02 MnT in Nov’16.
In first eleven months of CY17 Indian crude steel output rose significantly by 6.18% to 92.47 MnT against 87.09 MnT in similar time fame of previous year.
South Korea crude steel output plunges by 3.08 M-o-M basis in Nov’17-South Korea’s crude steel production was recorded at 5.65 MnT in Nov’17 against 5.83 MnT in Oct’17. On yearly basis South Korea’s crude steel output declined marginally by 0.9% at 5.65 MnT in Nov’17 against 5.8670 MnT in Nov’16.
So far in CY17 till Novt’17 nation’s crude steel output increased by 2.8% to 64.49 MnT against 62.72 MnT in similar time fame of previous year.
The crude steel production of other top steel producing countries in month of Nov’17 are as follows United States: 6.71 MnT (down by 2.0% M-o-M), Russia: 6.03 MnT (down by 3.2% M-o-M) and Brazil: 3.03 MnT (down by 0.3% M-o-M).
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