World Crude Steel Output Down by 1% in Q1 CY'20

According to the recent data released by the World Steel Association (WSA), the total crude steel production of 66 steel manufacturing countries edged down by 1% to 443.03 MnT in (Jan-Mar) Q1 CY'20, which was 449.22 MnT in the similar time frame of CY'19.

On the yearly premise, the World crude steel output tumbled by 6% in Mar'20 at 147.05 MnT when compared with 156.51 MnT in Mar'19.

World's crude steel output of major steel-producing countries in Q1 CY'20-

-- China's crude steel output up by 1% in Q1 CY'20- Chinese crude steel output increased by 1% to 234.45 MnT in Q1 CY'20 as against 231.70 MnT in Q1 CY'19. The extended New Year holidays and late resumption of market activities with the announced nation-wide lockdown since late Jan'20 have moderated the growth of China's crude steel output.

However, the same moved down by 2% Y-o-Y to 78.98 in Mar'20 from 80.34 MnT in Mar'19.

-- India's crude steel output fell by 5% in Q1 CY'20- According to the World Steel Association (WSA), Indian crude steel production dwindled by 5% at 27.51 MnT in Q1 CY'20 against 29.05 MnT in Q1 of the preceding year.

The weakened end-users demand amid prolonged slowdown and disruptions caused by the nation-wide lockdown announced towards the end of March'20 in the country led to lower production by steel manufacturers.

Meanwhile, on a yearly premise, production tumbled by 14% to 8.65 in Mar'20 against 10.04 MnT in Mar'19.

-- Japan's crude steel output down by 2% in Q1 CY'20- Japan crude steel output declined by 2% to 24.36 MnT in Q1 CY'20 against 24.97 MnT in Q1 of the previous year. While the same decreased by 10% to 8.20 MnT in Mar'20 against 9.08 MnT in Mar'19.

-- United States crude steel output slightly down by 1% in CY'19- USA's crude steel output stood at 21.95 MnT in Q1 CY'20, down by 1% as compared to 22.16 MnT in Q1 CY'19. Whereas the same tumbled by 6% to 7.22 MnT in Mar'20 as against 7.69 MnT in the corresponding month of the preceding year.

-- Crude steel production of other top steel-producing countries in Q1 CY'20- Russia: 17.91 MnT, South Korea: 16.94 MnT, Germany at 9.47 MnT, Turkey 8.98 MnT, and Brazil: 8.02 MnT.

Performance of major crude steel-producing nations in (Jan-Mar) Q1 CY'20:

Quantity in MnT
Source: WSA, SteelMint Research