Global crude steel production in July grew, but the rate of growth slowed considerably last month.
Production from the 64 countries reporting to the World Steel Association totaled 156.7 million tons in July, up 1.7% compared with July 2018.
The production growth in July marked a decline from the previous month, when year-over-year production growth reached 4.6%. Meanwhile, year-over-year production growth in July 2018 reached 5.3%.
China’s steel production has also dropped significantly.
After reaching year-over-year production growth of 12.7% in April, growth dropped to 10% for May and June. In July, however, growth plummeted to 5%.
China’s crude steel production for July 2019 totaled 85.2 million tons. No. 2 producer India produced 9.2 million tons of crude steel in July 2019, marking a 1.7% increase compared to July 2018.
Japan’s production 8.4 million tons of crude steel marked a 0.4% decline from July 2018. South Korea tallied crude steel production of 6.0 million tons, down 2.1% from July 2018.
U.S. production reached 7.5 million tons, up 1.8% compared to July 2018.
According to the American Iron and Steel Institute, U.S. steel production for the year through Aug. 24 increased 4.4% compared with the same period of 2018. Production for the period this year totaled 63.5 million tons.
The U.S. steel sector’s capacity utilization rate for the period reached 81.0%, up from 77.3% for the same period in 2018. By region, production during the week ending Aug. 24 reached:
- Northeast: 202,000 tons
- Great Lakes: 681,000 tons
- Midwest: 204,000 tons
- Southern: 719,000 tons
- Western: 71,000 tons
Elsewhere, Brazil’s crude steel production in July plunged 20.7% to 2.4 million tons, while Turkey’s production fell 10.6% to 2.9 million tons.
Crude steel production in Ukraine fell 1.7% to 1.8 million tons.