This Morning in Metals: YTD Steel Production Up 3.7%

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This morning in metals news, steel production through Oct. 7 is up for the year, the Kobe Steel scandal continues and India’s steel capacity could more than double by 2030.

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U.S. Steel Production Outpaces 2016 Levels

According to data from the American Iron and Steel Institute (AISI), U.S. steel production through Oct. 7, amounting to 69,545,000 net tons, is up 3.7% compared with the same time frame last year.

Production in the week ending Oct. 7 amounted to 1,741,000 net tons, up 5.2% from the same period in 2016 and up 2.1% from the week ending Sept. 30.

Kobe Steel in Hot Water

Kobe Steel’s troubles could be extending beyond aluminum and copper.

The data falsification scandal is now touching iron powder products, according to the Nikkei Asian Review.

Earlier this week, Kobe Steel admitted it altered inspection certificates to falsely show that certain aluminum and copper components had satisfied client specifications for strength, the Review reported.

India Steel Capacity Rising

According to the Economic Times, India’s steel capacity will more than double by the end of 2030.

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Steel Secretary Aruna Sharma said capacity, currently at 126 million tons, is expected to hit 150 million tons by 2021 and 300 million tons by 2030.

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