Industry News

World 2020 steel output slips 0.9% on year: worldsteel

Views : 155
Update time : 2021-01-27 16:09:10
Pittsburgh — Global crude steel production in 2020 slipped 0.9% year over year to 1.86 billion mt as rising output in Iran, Turkey and China almost fully offset losses in most other major steel-producing countries, the World Steel Association said in a Jan. 26 report.

Iran posted the largest increase, with production climbing about 13.4% year over year to an estimated 29 million mt in 2020. Overall production in the Middle East reached 45.4 million mt, a 2.5% increase from 2019 numbers.

Total 2020 crude steel production in Asia grew 1.5% year over year to 1.37 billion mt, bolstered by a 5.2% increase in China's steel output to 1.05 billion mt.

China's share of global crude steel production increased from 53.3% in 2019 to 56.5% in 2020, worldsteel said.

Other Asian countries reporting to worldsteel saw declines in steel production. Steel output fell 10.6% to 99.6 million mt in India, 16.2% to 83.2 million mt in Japan and 6% to 67.1 million mt in South Korea.

Turkey's crude steel production in 2020 was 35.8 million mt, up 6.0% from 2019, worldsteel said.

Russia is estimated to have increased steel production by 2.6% in 2020, reaching about 73.4 million mt. Overall, steel output in CIS countries rose 1.5% to 102 million mt during the period.

Related News
Read More >>
US dollar weakens amid reports of gradual tariff increases by Trump team US dollar weakens amid reports of gradual tariff increases by Trump team
Jan .15.2025
US dollar weakens amid reports of gradual tariff increases by Trump team
Arrow Minerals accelerating Scoping Study for DSO operation at bauxite project in Guinea Arrow Minerals accelerating Scoping Study for DSO operation at bauxite project in Guinea
Jan .15.2025
Arrow Minerals accelerating Scoping Study for DSO operation at bauxite project in Guinea
HRC price in European market remains stable HRC price in European market remains stable
Jan .15.2025
HRC price in European market remains stable
Stainless steel price in Chinese market recovering Stainless steel price in Chinese market recovering
Jan .15.2025
Stainless steel price in Chinese market recovering