Global Steel Output Rises 6.6% in July

By IndraStra Global News Team

In July, global crude steel production surged by 6.6 percent, reaching 158.5 million tonnes, compared to 148.9 million tonnes in the same month the previous year. For January-July, production in the 63 countries responsible for 97 percent of global steel output was recorded at 1103.2 million tonnes, indicating a marginal 0.1 percent decline.
According to the World Steel Association, China, the largest producer, manufactured 90.8 million tonnes of steel in July, marking an 11.5 percent increase compared to the previous year. For January-July, China's steel production was 2.5 percent higher, totaling 626.5 million tonnes.

India experienced a notable 14.3 percent growth in steel production in July, reaching 11.5 million tonnes. Overall, India's steel output increased by nine percent for the January-June period, totaling 79.9 million tonnes.
Steel production in Japan and the United States increased by 0.9 percent and 0.5 percent, respectively, reaching 7.4 million tonnes and 6.9 million tonnes. Conversely, South Korea and Brazil witnessed declines in output by nine percent and 4.7 percent, resulting in production levels of 5.7 million tonnes and 2.7 million tonnes, respectively. In the case of the US and Russia, production stood at 6.9 million tonnes and 6.3 million tonnes, marking increases of 0.5 percent and 5.8 percent year-on-year (y-o-y).
Germany's steel production experienced a slight drop, decreasing by 0.5 percent to 3.0 million tonnes. On the other hand, Turkey saw a notable surge in production, recording a 6.4 percent increase to 2.9 million tonnes. Iran's output, however, declined by 1.5 percent, reaching two million tonnes.
There are encouraging indications of expansion in global crude steel production, as numerous nations are witnessing an uptick in their output. This trend mirrors a recuperating global economy and a rising demand for steel across diverse sectors.

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