World Steel Association: Global Crude Steel Production Rises 5.4% in May
Global crude steel production in May rose 5.4% compared with May 2018, the World Steel Association reported Monday.
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According to the World Steel Association, the 64 countries reporting production data produced 162.7 million tons in May, up from 154.5 million tons in May 2018. The 5.4% year-over-year growth marked a decline from the previous month, when year-over-year production growth hit 6.4%.
By country, China’s production continues to notch new records. After a record April, China produced a new record 89.1 million tons of steel in May, up 10% compared with May 2018.
U.S. production hit 7.7 million tons in May, up 5.4% from May 2018.
According to the American Iron and Steel Institute (AISI), for the week ending June 22, U.S. raw steel production reached 1,873,000 net tons at a capability utilization rate of 80.5%. The weekly production marked an increase from the 1,815,000 net tons produced in the week ending June 22, 2018, when the capability utilization rate was 77.4%.
Meanwhile, year-to-date production through June 22 reached 46,870,000 net tons, at a capability utilization rate of 81.5%. The year-to-date production marked a 5.8% increase from the 44,288,000 net tons produced during the same period last year, when the capability utilization rate was 76.7%.
Elsewhere, India produced 9.2 million tons of crude steel in May, up 5.1% on a year-over-year basis. Japan produced 8.7 million tons of crude steel in May, down 4.6% year over year. South Korea’s crude steel production rose 2.2% year over year to 6.4 million tons.
In Europe, Italy’s crude steel production rose 1.1% year over year to 2.2 million tons. France produced 1.2 million tons, down 7.6% compared to May 2018. Spain produced 1.3 million tons of crude steel in May 2019, down by 7.1% on May 2018.
Crude steel production in Ukraine reached 1.8 million tons in May, up 7.8% from May 2018. Brazil’s production reached 2.8 million tons, rising by 2.9% on a year-over-year basis.
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Turkey’s crude steel production hit 3.1 million tons, down 8.0% from May 2018.
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