Global steel production falls in January; India sees least drop

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World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) fell 7.1 percent year on year to 128 million tonnes.

Worldsteel said China’s crude steel production for January 2016 was down 7.8 percent to 63.2 million tonnes, while Japan’s production fell 2.8 percent to 8.8 million tonnes.

India witnessed the least fall, with monthly production down 1.2 percent at 7.4 million tonnes. South Korea produced 5.7 million tonnes of crude steel in January 2016, down by 4.5% on January last year, the world body said in a statement.

In the EU, Germany produced 3.6 million tonnes of crude steel — down 2 percent — in January. Italy’s produced 1.8 million, down by 5.3%, and Spain produced 1.2 milion tonnes of crude steel, down by 9.5% compared to January 2015.

Russia dropped10.6 percent at 5.6 million tonnes of crude steel, while Ukraine’s production was down 3.6 percent at 1.9 million tonnes, worldsteel said in a statement. It said the US reported production of 6.6 million tonnes, a fall of 8.8 percent.

The crude steel capacity utilisation ratio of the 66 countries in was 66 percent, lower by 5.8 percentage points than January 2015 but 0.8 percent higher than December.

 

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