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Global steel output down 1.6% y/y in January; India reports 7.3% jump

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Ferrous 23 Feb 2024 04:26 PM IST World Steel Association

Global crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) decreased by 1.6% year-on-year to 148.1 million tonnes (MT) in January. India's production surged 7.3% to 12.5 MT.

The world's biggest steel producer China is estimated to have produced 77.2 MT of crude steel in January – a 6.9% year-on-year decrease.

The Asia and Oceana region's production was 3.6% lower year-on-year, at 107.6 MT, while Russia and other Commonwealth of Independent States produced 4% more steel year-on-year at 7.2-million tonnes for January.

The European Union's steel output decreased by 1.8% year-on-year to 10.2 MT, while the Europe (other) region produced 22.5% more steel year-on-year at 3.9 MT.

Production in North America decreased by 2.1% year-on-year to 9.2 MT, with the US having produced 6.8 MT.

Production in South America was also lower, by 6.3% year-on-year, at 3.4 MT.

The Middle East increased its output by 23.1% year-on-year to 4.7 MT, while Africa's output increased by 16.3% year-on-year to 2 MT.