World Steel Association (worldsteel) in its latest report has said that crude steel output of India fell 24.6% to 7.150 million tonnes (MT) during July 2020 as compared to production of 9.485 MT during the same month in 2019. It added that global steel production also registered a fall during the month under review.
World crude steel production for the 64 countries reporting to the worldsteel was 152.694MT in July 2020, a 2.5% decrease compared to 156.679MT in July 2019. It said due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month's figures are estimates that may be revised with next month's production update.
According to the data, China registered a 9.1% Y-o-Y growth in its steel output at 93.359MT during July 2020. The United States produced 5.241MT of crude steel in July 2020, registering a fall of 29.4% compared to 7.419MT output in July 2019. Japan produced 6.049MT of crude steel in July 2020, down 27.9% from 8.387MT in July 2019. South Korea's steel production for the month stood at 5.526MT, down 8.3% compared to 6.026MT in July 2019.
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