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January 6, 2020

November Steel Production Falls In Most Places Except China

 

  • The World Steel Association announced that global steel production fell one percent from November 2018 to November 2019. Chinese production was up four percent while production was down in South Korea (-0.5 percent), the United States (-2.2 percent), India (-2.8 percent), Turkey (-8.1 percent), Brazil (-10.5 percent), Japan (-10.6 percent), France (-18.2 percent). In related news: according to S&P Global, China’s crude steel production fell one percent from October 2018 to October 2019, marking the first time output has contracted since the beginning of 2016. Despite that drop, Argus Media reported Chinese crude steel output could exceed one billion tons in 2020, “reaching yet another record high on the back of stimulus-fueled demand even as most other regions struggle with oversupply.”