Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Global crude steel production across 64 countries in August rose by 0.6pc to 156.2mn mt compared to the same month last year according to the Worldsteel Association (worldsteel). 


In Asia, China’s crude steel output increased by 8.4pc to 94.8mn mt during the month compared with August 2019 but fell by 4.4pc in India to 8.5mn mt during the same period. Japan witnessed the highest decline in crude steel production among Asian countries with the output falling by 20.6pc to 6.4mn mt. In South Korea, output dropped by 1.8pc to 5.8mn mt during the same period.


Crude steel production in Germany fell by 13.4pc to 2.8mn mt in August compared with the same prior-year period and increased by 9.7pc to 0.9mn mt in Italy. Crude steel outputs in France and Spain fell by 31.2pc and 32.5pc, respectively, to 0.7mn mt each in August compared to the same month last year. 


The US also witnessed a 24.4pc drop in crude steel output to 5.6mn mt in August 2020 compared with August 2019. Turkey’s crude steel output on the other hand rose by 22.9pc to 3.2mn mt during the same period. Crude steel production in the CIS region declined by 6.2pc to 7.9mn mt and dropped by 5.7pc to 1.8mn mt in Ukraine during the same period, according to worldsteel. 


Declines across LatAm

Crude steel production in Latin American countries, excluding Brazil, declined in August, with Mexico, Argentina, Colombia, and Chile reporting the highest reductions.


Overall, steel production in South America fell by 1.7pc to 3.3mn mt in August, from 3.35mn mt in the same month last year.


Brazil was the only LatAm country where production increased by 6.5pc to 2.70mn mt in August from 2.53mn mt during the same month last year, according to worldsteel data.


On the other hand, Mexico the second-largest crude steel producer in the region saw a reduction of 17.3pc to 1.25mn mt of crude steel produced in August, from 1.51mn mt last year. Argentina’s crude steel output decreased by 22.8pc to 336,000mt in August, from 436,000mt last year. 


Colombia’s steel output also dropped by 4.3pc to 110,000mt, from 115,000mt, Chile’s output fell by 4pc to 85,000mt from 89,000mt,  Peru’s was down by 66.1pc to 40,000mt from 118,000mt, and Ecuador’s steel output decreased by 52.8pc to 25,000mt in August from 53,000mt produced in the same month the prior year.



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