World Crude Steel Output Up 4.5% in Q1 CY’19
According to the recent data released by World Steel Association (WSA) total crude steel production of 64 steel manufacturing countries moved up by 4.5% to 444.11 MnT in (Jan-Mar) Q1 CY’19 as compared to 425.06 MnT in (Jan-Mar) Q1 CY’18.
Meanwhile on monthly premise world steel output shoot up by 13% in Mar’19 to 155 MnT as compared to 137.27 MnT in Feb’19.
SteelMint has analyzed world’s crude steel production numbers of major steel producing countries which are as follows:
China’s crude steel output increases by 10% in Q1 CY’19- China crude steel output moved up by 10% to 231.06 MnT in Q1 CY’19 against 210.21 MnT in the same time frame of previous year.
However on monthly premise the same registered an increase of 13% in Mar’19 to 80.32 MnT in comparison to 70.98 MnT in the previous month.
Lesser stricter restrictions to curb excess output results to surge in nation’s crude steel output.
India's crude steel output remain stable in Q1 CY’19- As per WSA (World Steel Association) India’s crude steel output remained largely stable at 27.33 MnT in the current quarter which was 27.4 MnT in similiar quarter of previous year
However on monthly basis the same moved up by 8% in Mar’19 to 9.41 MnT against 8.73 MnT in Feb’19.
Major Indian steel mills reported surge in their crude steel output in last quarter in order to achieve their production guidance.
Japan’s crude steel output down by 5% in Q1 CY’19- Japan crude steel output fell by 5% to 24.97 MnT in Q1 CY’19 as compared to 26.4 MnT in Q1 CY’18.
On monthly basis the same stood at 17% to 9.08 MnT in Mar’19 in comparison to 7.74 MnT in Feb’19.
However as per market reports nation’s crude steel production is expected to increase in (April-June) quarter amid increase in production from integrated mills.
United States crude steel output up by 7% in Q1 CY’19- USA crude steel output stood at 22.22 MnT in Q1 CY’19, increased by 7% against 20.81 MnT in the same time frame of previous year.
On monthly premise the same registered an increase of 12% in Mar’19 to 7.75 MnT as compared to 6.89 MnT in Feb’19.
Thus the U.S. Department of Commerce earlier said that the trade actions are aimed at increasing domestic steel production that reflects healthy steel industry. The tariffs are driving production capacity of U.S. steel producers amid lower imports.
Crude steel production of other top steel producing countries in (Jan-Mar) Q1 CY’19 remained as follows Russia: 16.81 MnT, South Korea: 18.10 MnT, Germany at 10.44 MnT, Turkey 8.18 MnT and Brazil: 8.39 MnT.
source: SteelMint
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