Global steel production growth rebounds in June
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.