Steel Markets
Global Steel Output Rises in July: worldsteel
Written by Ethan Bernard
August 22, 2023
Global steel production increased 6.6% year over year (YoY) in July to 158.5 million metric tons (Mt), according to the latest report from the World Steel Association (worldsteel).
China produced 90.8 million metric tons last month, up 11.5% from July 2022, according to worldsteel. The US produced 6.9 million metric tons, rising 0.5% in the same comparison.
Regions seeing a YoY increase in July included: Africa, +26.1% to 1.4 million metric tons; Asia and Oceania, +9.1% to 119.9 million metric tons; Other Europe, +5.1% to 3.6 million metric tons; and Russia and Other CIS + Ukraine, +9.3% to 7.4 million metric tons.
Regions that saw a decrease in July 2023 vs. July 2022 included: the EU, -7.1% to 10.3 million metric tons; Middle East, -3.9% to 3.1 million metric tons; North America, -1.2% to 9.4 million metric tons; and South America, -8.4% to 3.4 million metric tons.
The 63 countries reporting to worldsteel represent around 85% of global steel production, the Brussels-based association said.
Ethan Bernard
Read more from Ethan BernardLatest in Steel Markets
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).