World Crude Steel Output Rises 5% in H1 CY’19

Meanwhile on monthly premise world steel output inched down by 2% in Jun’19 to 159.28 MnT as compared to 162.87 MnT in May’19.

Also on yearly basis the same increased by 5% in Jun’19 as compared to 152.02 MnT in Jun’18.

SteelMint has analyzed world’s crude steel production numbers of major steel producing countries which are as follows:

China’s crude steel output increased by 10% in H1CY’19- China crude steel output witnessed an increase by 10% to 492.16 MnT in H1CY’19 as against 447.82 MnT in the same time frame of previous year.

Higher steel prices in domestic market over increased profit margins lead to rise in nation’s crude steel output in first half of CY19.

However on monthly premise the same inched down by 2% in Jun’19 to 87.53 MnT in comparison to 89.09 MnT in the previous month.

India's crude steel output up by 5% in H1CY’19- As per WSA (World Steel Association) India’s crude steel output moved up by 5% to 56.95 MnT in H1CY’19 which was 54.2 MnT in same time frame of previous year.

Major Indian steelmakers ramp up their steel capacities which led to increase in output in first half of CY19.

However on monthly basis the same inched down by 1% in Jun’19 to 9.33 MnT as against 9.44 MnT in May’19.

Japan’s crude steel output down by 4% in H1CY’19- Japan crude steel down by 4% to 51.08 MnT in H1CY’19 as compared to 52.94 MnT in H1CY’18.

As per market reports, weak exports have weighed on Japan's crude steel output as nation’s steelmakers are expecting that increase in domestic demand may help to ease production levels.

On monthly basis the same witnessed an uptick by 1% at 8.78 MnT in Jun’19 in comparison to 8.67 MnT a month ago.

However solid demand and increased spending on infrastructure and automobile sector may further increase nation’s steel output in H2CY19.

United States crude steel output up by 5% in H1CY’19- USA crude steel output stood at 44.34 MnT in H1CY’19, marginally up by 5% against 42.04 MnT in the same time frame of previous year.

With the imposition of trade tariffs by 25% to reduce the volumes of cheaper imports and protect the interest of domestic steelmakers in-turn increased crude steel output in USA in first half of CY19.

On monthly premise the same registered a marginal decline by 4% in Jun’19 to 7.27 MnT as compared to 7.55 MnT in May’19.

Major US steel mills had started to keep blast furnaces idle from mid Jun’19 amid declining demand from automobile, energy and agriculture sectors in domestic market. This has led to decline in nation’s crude steel output on monthly basis in Jun’19.

Crude steel production of other top steel producing countries in (Jan-Jun) H1CY’19 remained as follows- Russia: 35.75 MnT, South Korea: 36.89 MnT, Germany at 20.71 MnT, Turkey 16.99 MnT, Brazil: 16.68 MnT and Iran: 12.78 MnT.