According
to the recent data released by World Steel Association (WSA) total crude steel
production of 64 steel manufacturing countries moved up by 5% to 924.99 MnT in
Jan-Jun’19 as compared to 881.68 MnT in Jan-Jun’18.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.
Performance
of major crude Steel producing nations in H1 CY’19
|
Country
|
(Jan-Jun)
H1CY’19
|
(Jan-Jun)
H1CY’18
|
|
China
|
492.16
|
447.82
|
|
India
|
56.95
|
54.2
|
|
Japan
|
51.08
|
52.94
|
|
United States
|
44.34
|
42.04
|
|
Russia
|
35.75
|
35.98
|
|
South Korea
|
36.89
|
36.03
|
|
Germany
|
20.71
|
21.79
|
|
Turkey
|
16.99
|
18.89
|
|
Brazil
|
16.68
|
17.15
|
|
Iran
|
12.78
|
12.11
|
Quantity
in MnT
Source: SteelMint Research, WSA