World steel demand surges

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Image source: Recycling Today

World crude steel production for the 66 countries reporting to the Brussels-based World Steel Association (Worldsteel) increased by 1.9% compared with August 2015 output. China, which produces half of the world’s steel, experienced a 3% gain in production and was responsible for much of the increase.

Global steel output stood at 134.1 million tonnes in August 2016, according to Worldsteel, with China responsible for 68.6 million tonnes, or 51.1% of the total.

The additional 2 million tonnes of steel produced by China in August 2016 (compared with the year before) accounted for 78% of the total global increase of 2.56 million tonnes.

Elsewhere in Asia, India produced 8.1 million tonnes of crude steel during the month, up 9.4% compared with the same month in 2015. Japan produced 8.9 million tonnes of crude steel in August 2016, an increase of 1.5% compared with the year before, while South Korea’s production of 5.9 million tonnes in August 2016 was up by 1.8% against August 2015.

In the EU, Germany produced 3.5 million tonnes of steel in August 2016, an increase of 2.4% compared with August 2015, while Italy’s 1.1 million tonnes was up by 7.4% compared with the year before. In Spain, however, just 1 million tonnes of crude steel were produced in August 2016, down by 11.8% year on year.

Turkey’s crude steel production for August 2016 was 2.9 million tonnes, up by 12.9% compared with August 2015.

The United States produced 6.7 million tonnes of crude steel in August 2016, a decrease of 3.4% compared with the year before.

Article Source: Recycling Today

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