World crude steel output rises in Oct’20 on improved demand

World crude steel output has increased by 4% to 161.89 in Oct ’20 as against 156.36 mn t a month back, the latest data released by WSA shows. On yearly basis, output has moved up by 7% compared to 151.25 mn t in Oct ’19. Improving downstream demand has led to a ramp-up of production by mills in major steel producing nations.

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

• China’s crude steel production fell marginally in Oct
  In spite of the Golden week holiday (1st Oct-8th Oct), China produced 92.20 mn t of crude steel in Oct ’20, compared to 92.56 mn t in Sep ’20. China witnessed an uptick in demand form automotive sector and construction sector in Oct ’20 but this is likely to come down due to disruption by the country’s ‘winter cuts’ – from November to March, with plants failing to meet environmental requirements being forced to curb their output.
• India’s crude steel production registers an uptick of 6 % m-on-m
  India’s crude steel output stood at 9.06 mn t in Oct ’20, increasing by 6% as against 8.52 mn t in Sep ’20. Mills recovered their capacity utilization as the economy has stated to observe an uptick in demand due to festive season. Uptick in downstream demand from construction, auto & white goods sector supported market sentiments. India produced 9.06 mn t of crude steel in Oct ’20, up 0.9% from Oct ’19.
• Japan’s crude steel production up by 11 % m-on-m
  Japan produced 7.2 mn t of crude steel in Oct ’20, up 11% from Sep ’20. Factors behind the increase in output include – active vehicle production in Japan and bullish demand from China, which also lifted sales of hot-rolled coils.

In the European Union, Germany produced 3.4 mn t of crude steel in Oct ’20, up 3.1% from Oct ’19. Turkey’s crude steel production for Oct ’20 was 3.2 Mt, up by 19.4% form Oct ’19.
In the United States produced 6.1 mn t of crude steel in Oct ’20, a decrease of 15.3% compared to Oct ’19.
In the C.I.S, production is estimated to be 8.4 mn t in Oct ’20, up 4.7% from Oct ’19. Ukraine produced 1.7 mn t of crude steel in Oct ’20, up 5.9% from Oct ’19.