Steel output in Asia increased by 2.9%

In August this year, the volume of steel production in Asia increased by 2.9%. China, the world's largest steel producing country, has reported a significant jump in production. India continued to try to surpass Japan to remain the second largest steel producer in the region and in the world.

Chinese steel output continued to rise for a month. The country's production amounted to 80.326 million tons, which accounts for more than 74% of regional production and almost 53% of world production. Indian steel production is estimated at 8.839 million tonnes, up 3.7% over the previous year. In third place was Japan, whose production volume in August 18th increased slightly by 0.9% and amounted to 8.805 million tons.

Pakistan was the only country reporting a decrease in steel production from the previous year. Production in the country decreased by 5.4% from 460 thousand tons in August-August to 435 thousand tons in August this year. Meanwhile, Vietnam recorded a 47% increase in production. Taiwan and Thailand reported increases in steel production by 8.2% and 1.8% compared to last August. South Korean products remained at the same level.

The cumulative production of steel by Asian countries amounted to 837.888 million tons during the first eight months of this year. Regional production in January-August 2017 amounted to only 795.129 million tons. The leading manufacturers were China, India and Japan.