Led largely by a 2.6% growth in Chinese output, global steel production grew by 1.4% in July to 133.7 MT compared to 131.9 MT in the same month past year, data compiled by World Steel Association (WSA) showed.
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China’s raw steel production fell 3.83% from June to July 2016, with a monthly total of 66.8 million metric tons. Elsewhere in Asia, Japan produced 8.9 MT, an increase of 0.5% compared to July 2015, World Steel said in a statement.
In its short-range outlook for the year 2016 and 2017, WSA had in April forecasted that global steel demand would decrease by 0.8% to 1,488 MT in 2016 following a contraction of 3% in 2015. The World Steel Association reports tonnage and capacity utilization data for carbon and carbon alloy steel in 66 countries; data for production of stainless and specialty alloy steels are not included.
Brazil’s crude steel production for July 2016 was 2.7 MT, down by 6% on July 2015.
However, July’s production figures were down by 1.46% compared with those from June.
In the European Union, Germany produced 3.4 MT of steel in July 2016, a decline of 6.1 per cent compared to July 2015, whereas the United Kingdom produced 0.7 MT, which was a fall of 27.3 per cent during the same period.
In Spain, steelmakers’ July tonnage totaled just 840,000 metric ton, which was 25.5% less than during June and 13.01% less than during July 2015.
In July 2016, Russian Federation produced 6.1 million tonnes of crude steel, up by 0.9% over July 2015.
The crude steel capacity utilisation ratio of the 66 countries in July 2016 was 68.3%.
Worldsteel figures showed that global output for July rose to 133.74 million tonnes from 131.95 million tonnes in the corresponding month of 2015. Rebar contracts have recently gone for more than 2,600 yuan per ton on the Shanghai Futures Exchange, a 40% climb from the start of the year.
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Year-to-date steel output in the United States has been 57.6 million net tons, at a capacity utilization rate of 72.5 percent, according to the American Iron and Steel Institute.
