September output declines as India growth engine stalls
Global crude steel production dropped 4.7% on-year in September to 143.6 million tonnes, as India joined the countries seeing output decline and China registered another drop. EU output rose for the second consecutive month, Kallanish notes from worldsteel data.
Chinese production fell 6.1% on-year in September to 77.07mt, as the country continued to struggle with weak demand and despite prices gradually rising throughout the month. Chinese exports hit their highest since July 2016, reaching 10.15mt.
India, the sole major producer to maintain output growth over consecutive months while other countries have been struggling this year, saw production inch down 0.2% in September to 11.7mt.
Japanese output fell 5.8% to 6.62mt but South Korean production rose 1.3% to 5.5mt.
EU27 production rose 0.3% in September to 10.46mt. Like last month, the Netherlands saw output surge, by 39% to 525,000t, after Tata Steel’s Ijmuiden blast furnace revamp completion. But it was joined by 4.3% growth in Germany to 2.99mt, while French and Spanish output rose 9% and 0.8% respectively to 921,000t and 1.01mt. However, Italian production fell 8% to 1.8mt.
Turkish production jumped 6.5% to 3.09mt.
US output rose 1.2% on-year to 6.65mt and Brazilian production jumped 10% to 2.84mt.
Russian production was estimated down 10.3% on-year in September to 5.6mt and Ukrainian production was confirmed up 9.3% to 610,000t.
Crude steel output in the 71 countries monitored by worldsteel was thus down 1.9% on-year in January-September to 1.39 billion tonnes. Growth in India, Germany, Turkey and Brazil was insufficient to offset falling output in China and elsewhere.
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Anonymous
Very good overview of the weekly steel market.
Anonymous