Global steel production growth rebounds in June
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Worldsteel released their monthly update on global crude steel production on the 20th July. Total global steel production in June 2017 was estimated at 141Mt, up 3.2% YoY but down from the previous month in line with the usual seasonality.
Chinese steel production in June was estimated at 73Mt, up 5.7% YoY. This was up from a growth of 1.8% in May and the highest growth in 4 months. Year to date steel production in China is up 4.2% from the same period in 2016.
Steel production in the rest of the world was estimated at 68Mt, up 0.7% YoY. This was down from a YoY growth of 2.1% in May and the slowest YoY growth in the last 12 months. YTD steel production of 694Mt is up 4.4%.
Klaveness Research says:
In Q4-16 and Q1-17 the growth in global steel production was a truly global phenomenon with steel production increasing in virtually all regions in the world. During these two quarters steel production in China was up 4.2% and steel production in the rest of the world was up 5.7%. In Q2-17 we have seen more of a divergent trend with the growth in Chinese steel production continuing at a strong pace of 4.1% while the growth in the rest of the world slowed to 2.6%. In fact the growth in the rest of the world has been slowing sequentially in the last 5 months after peaking at 8.5% in January.