The International Iron and Steel Institute, a global industry association that represents 66 countries and 180 steel producers, recently released steel output figures from August. Since IISI members produce about 85 percent of the world’s steel, these output figures gauge world production. Amounting to 112.2 million tons, these figures reveal a 2.9 percent rise from last August, when steel output reached 108.1 million tons.
Engineering News shares that South Africa’s steel production increased 7.4 percent compared to last August’s numbers, and Brazil’s production strengthened 6.9 percent. Steel production in India also jumped 6.9 percent. Meanwhile, all Asian production rose 2.4 percent and North America saw output figures increase 6.7 percent.
The world moving annual total, described as the “sum” of the previous 12 months, reflects a slow growth rate in the latest figures. According to Engineering News, it “slowed to 5.5 percent for August, compared with 5.8 percent in July. The IISI said that the MAT growth rate had remained at 5.8 percent for the past four months.”
The IISI report added more information on the moving annual total (MAT), with a focus on China: “In the first eight months of 2008, China produced 351.1 mmt of crude steel, an increase of 8.3 percent compared to the same period in 2007. In August 2008, China’s MAT growth rate continued to slow further to 8.6 percent, compared to its MAT growth rate peak of 26.3 percent in January 2006. China’s crude steel production for August 2008 was 42.6 mmt, an increase of 1.3 percent on August 2007.” The IISI report is available online.