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India’s crude steel output falls 39% to 5.76 MT in May: worldsteel

24 Jun 2020 Evaluate

Declining for the third straight month, the World Steel Association (worldsteel) in its latest report has said that India’s crude steel output fell 39% to 5.76 million tonne (MT) in May as compared to production of 9.46 MT of crude steel during the same month a year ago. The country observed a nationwide lockdown from March 25 onwards, which impacted production, demand and supplies of steel in the country. At 5.76 MT in May, India's output was down for the third straight month since March. In March, India produced 8.65 MT of crude steel, down 14% from 10.4 MT in the same month previous year. The country in April produced 3.13 MT steel, registering over 65% fall as compared to 9.02 MT.

As per the report, the global steel output in May 2020 was also down by 8.7% to 148.77 MT as compared with 163.01 MT. Global steel giant China has registered a rise of 4.2% in its output at 92.26 MT in May as against 88.56 MT. In May, the United States produced 4.79 MT of crude steel, registering a fall of 36.6% as compared with 7.55 MT in the year-ago month. Japan produced 5.91 MT of crude steel production in May 2020, down 31.8% from 8.67 MT. South Korea produced 5.38 MT crude steel, down 14% from 6.27 MT in May 2019.

In the EU, Germany estimated 2.85 MT of crude steel production in May 2020, down by 18.9%. Italy produced 1.25 MT of crude steel in March 2020, down 43.6%. France estimates 0.784 MT of crude steel production in May 2020, a 36.5% decrease compared. Spain’s production fell 33.7% to 0.833 MT of crude steel in May 2020. Russia estimates 6 MT of crude steel production in May 2020. Ukraine produced 1.63 MT of crude steel, Brazil produced 2.18 MT and Turkey's crude steel production for May 2020 was 2.27 MT.

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