The world’s steelmakers churned out 5.6 percent more crude steel in September 2017 compared with September 2016, according to the Brussels-based World Steel Association (Worldsteel).
Output for the 66 countries that report to Worldsteel checked in at 141.4 million metric tons in September 2017, compared with 134 million metric tons of output in September 2016.
Year to date in 2017, Worldsteel reports crude steel production of 1.267 billion metric tons, also up by 5.6 percent compared with the same period in 2016.
Asia’s steel production continues to surge, having grown by 5.9 percent year over year. Asia has produced 876.3 million metric tons of crude steel in the first nine months of 2017, representing 69 percent of the world’s total.
Steelmakers in most other parts of the world also have raised their output of crude steel in the first three quarters of 2017, with the EU’s output increasing by 4.1 percent and North America’s production rising by 3.5 percent.
While China’s steelmaking capacity and output—and its ability to keep consuming the steel it produces—have been looked at with skepticism by many analysts, the nation’s steel output continues to rise. Year to date, China’s output has risen by 6.3 percent, with September showing only a modest deviation from that pattern (with a 5.3 percent increase in September 2017 compared with September 2016).
Ferrous scrap exporters in Europe and North America are likely encouraged by Turkey’s figure for September 2017. Steelmakers in Turkey produced 3 million metric tons of steel in September, an increase of 13 percent compared with September 2016.
Other substantial ferrous scrap importing nations also are experiencing steel output boosts so far in 2017, with crude steel output rising by 7.8 percent in Taiwan, 5.7 percent in India, 3.5 percent in South Korea, and an impressive 43 percent in Pakistan. Worldsteel says the production figure it receives from Vietnam is incomplete, but its known steel output has risen by 86 percent in the first nine months of 2017 compared with the first three quarters of 2016.