The Strategist

Global steel output declines in August

09/23/2022 - 06:26

According to a survey from the World Steel Association, global steel production was 150.6 million tons in August, a 3% reduction from the same month previous year (World Steel Association, WSA).

"World steel production in August 2022 declined 3.0% to 150.6 million tons," reads a message from the WSA.

Included in the reporting period, the total amount of steel produced by CIS nations and Russia fell by 22.4% to 6.9 million tons.

9.7 million tons of steel were produced in the EU as a whole, which is 13.3% less than in the previous year. To 9.6 million tons, North American steel production fell by 5.4%.

With a 0.2% decrease, Asia and Oceania produced 112.6 million tons. China's production of steel decreased 0.5% to 83.9 million tons. It was raised by 1.2% in India, to 10.2 million tons.

After eight months, worldwide steel production fell to 1.254 billion tons, a 5.1% down from the same period in 2021.