Economy

WSA: Global Steel Production Up 4.1% in February

Written by David Schollaert

March 25, 2021

World crude steel production, at 150.2 million metric tons, was 4.1% higher in February than in the same month last year, reported the World Steel Association. February’s data is significant in that it’s the last month that year-over-year figures can be compared pre-pandemic without being skewed by COVID, which hit in March last year.

February’s increase was driven largely by China’s estimated 83.0 million metric tons produced in February 2021, a rise of nearly 11.0% year on year, but down 8.0% compared with the month prior. 

Although Korea, Turkey, Brazil and Iran reported production increases compared to year-ago levels, totaling 13.6 million metric tons, China was the only one of the top five global steel-producing nations to report a year-on-year increase. India, Japan, the United States and Russia all saw decreased crude steel output, with the U.S. down nearly 11.0% in February at 6.3 million metric tons, compared with year-ago totals. Germany also saw a double-digit decrease in crude steel production year on year, down 10.4% at 3.1 million metric tons.

By David Schollaert, David@SteelMarketUpdate.com

 

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

Read more from David Schollaert

Latest in Economy