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Global economy recovery, steel production resumed growth

September 25, 2020

Crude steel production in the 64 countries reporting to the World Steel Association(worldsteel) inched up 0.6% on-year in August to 156.2 million tonnes, the first growth since March. China, Vietnam and Turkey were again the main actors behind the growth, but production also recovered in more countries.



The EU28 saw output slump -16.6% to 9,320,000 tons, with German output down -13.4% to 2,830,000 tons.Italian and UK production, however, rose 9.7% and 11.2% respectively to 939,000 tons and 566,000 tons.



US production slumped -24.4% to 5,590,000 tons but Brazilian output was up 6.5% to 270,000 Tons.



Global steel output in January-August nevertheless still dropped -4.2% on-year to 1.19 billion tonnes.



For antit monopoly reasons world steel no longer produces a monthly global capacity utilisation ratio. Information on capacity can be found on the OECD website,worldsteel says.