World crude steel production in the 63 countries that report to the
Brussels-based World Steel Association (Worldsteel) was 158.5 million metric
tons this July, representing a 6.6 percent increase compared with July 2022.
Year-to-date steelmaking figures remain down in six of the world’s 10
largest steelmaking countries. This July, however, output was down in only four
of those nations compared with July of last year, with the United States,
Turkey and Japan all managing to move from the negative to the positive column.
Indian steel output this July outpaced last year’s production by more
than 14 percent. In China, where widespread economic concerns have been
documented, the nation’s steelmakers nonetheless churned out 11 percent more
steel this July compared with July 2022.
Ferrous scrap exporters who have watched Turkey’s output drop all year
will be gratified to hear that nation’s steel producers made 6.4 percent more
steel this July compared with one year ago.
Suffering through the most difficult July were steelmakers in South
Korea, where output this July dropped by 9 percent compared with July 2022
production.
Year to date after seven months in the Worldsteel books, production in
the U.S. is off by 2.3 percent, while two of that nation’s leading ferrous
scrap export destinations paint two different pictures.
In the U.S., the Washington-based American Iron and Steel Institute
(AISI), a Worldsteel member organization, says in the week ending August 19,
2023, American output of about 1.75 million tons was up by 2.2 percent compared
with the same week last year. The production figure also was up by 1.1 percent
from the previous week.
On the export front for ferrous scrap processors, while Turkey has made
13.5 percent less steel year to date, India’s 2023 production rate is outpacing
last year’s by 9 percent.