After global crude steel production rose for four consecutive years, output declined last year, the World Steel Association reported Tuesday.
Global crude steel production drops 0.9% in 2020
Global crude steel production fell by 0.9% in 2020 compared with 2019, the World Steel Association reported.
Production had increased every year from 2015-2019.
Output last year totaled 1.86 billion tons, down from 1.88 billion tons in 2019.
Mirroring its economic recovery compared with the rest of the world, China’s steel production remained strong compared with the rest of the world. China’s output rose from 1.0 billion tons in 2019 to 1.05 billion tons in 2020.
As such, China’s share of global output jumped from 53.3% to 56.5%.
India and Japan, the No. 2 and No. 3 steel producers, respectively, both saw their output decline in 2020. India’s fell by 10.6%, while Japan’s dropped by 16.2%.
Among the top 10 steel producers in the world, only China, Russia, Turkey and Iran posted year-over-year growth.
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