Global Steel Output Steadily Rising Through 3Q
Post Date: 10 Nov 2017 Viewed: 3914
Through three quarters of 2017, global steel production has risen more than 5.2% over the comparable period of 2016, reconfirming the indicators that global steel consumption has resumed a more normal pattern and that the industry has regained the stability it lacked over the previous three years. During September, steel production across 66 countries totaled 141.4 million metric tons, according to the World Steel Assn., down 2.3% from August production but 5.56% higher than September 2016 production.
Through September, the world’s steelmakers have produced 1.27 billion tons of raw steel, over 60 million tons more than were produced from January to September 2016. It also reported that global capacity utilization during the same period was 73.5%, 0.6% higher than the August result and 2.8% higher than September 2016 capacity utilization.
Related: Global Steel Tonnage Increasing Steadily
World Steel reports monthly raw-steel output and capacity utilization for 66 nations. Raw (or crude) steel is produced by basic oxygen furnaces and electric arc furnaces, and cast into semi-finished products, such as slabs, blooms, or billets. The monthly report covers carbon and carbon alloy steels; data for production of stainless and specialty alloy steels are reported separately.
Earlier this month World Steel issued a semi-annual short-term outlook for global steel demand, projecting total 2017 total demand to rise slightly to 1.6 billion metric tons, pointing to improved results in China and the developed economies, less political and social instability, and strength in the construction and machinery sectors.