Global Crude Steel Production Growth Slows to 1.7% in July

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Global crude steel production in July grew, but the rate of growth slowed considerably last month.

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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%.

Source: World Steel Association

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.

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Crude steel production in Ukraine fell 1.7% to 1.8 million tons.

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