World Crude Steel Output Soared 7% in October

The monthly crude steel production data published by the World Steel Association (worldsteel) suggests notable surge in output during the month of October 2020. The 64 countries reporting to it, produced a total of 161.9 million tonnes (Mt) of steel during the month, which is higher by 7% upon comparison with the same month a year before.

The Asian crude steel output was up by 10.4% year-on-year to total 120.116 Mt. China led the output surge with 12.7% year-on-year rise in output. India produced more or less flat output of 9.1 Mt, whereas Japan’s output dropped to 7.2 Mt.

The EU-28 countries’ crude steel output was down by 5.6% over the previous year. The North American output too was down by 13.1%, led by major declines in the U.S. and Canada. The African crude steel production recorded a decline by 5.6% during the month, worldsteel data said.

In the CIS region, steel output was estimated at 8.393 Mt, higher by 4.7% year-on-year. The South American region recorded marginal surge in output to total 3.479 Mt. The Oceania region recorded 7% jump in output. In Other Europe region, Turkey registered 19.4% jump in output.

The association noted that many of the month’s production figures are estimates and that they may be revised with the next month’s production data.