Indian steel production drops more than 4% to 8.48 million tonnes in August - Worldsteel

Steel production in India fell more than 4% to 8.478 million tons (MT) in August 2020, according to the World Steel Association (worldsteel).

The latest report from the global industry organization said the country produced 8,869 metric tons of steel in the same month last year.

However, as the data showed, global steel production began to show positive dynamics.

"Global crude steel production for the 64 countries reporting to worldsteel was 156.244 million tonnes in August 2020, up 0.6% over August 2019," worldsteel said in a statement.

“Due to the ongoing difficulties associated with the COVID-19 pandemic, many of this month's numbers are estimates that could be revised with a production update next month,” he added.

In August 2019, global steel production was 155.374 million tonnes.

China recorded an 8.4% increase in steel production in August 2020 over the same period last year, reaching 94.845 million tonnes, up from 87.499 million tonnes in August 2019.

In August 2020, the US produced 5.588 million tonnes of steel, which is 24.4% less than in August 2019, when it produced 7.396 million tonnes of steel.

In August 2020, Japan produced 6,446 tons of steel, down 20.6% from 8,120 tons a year ago. According to the data, South Korea's steel production for the month was 5,800 tons, down 1.8% from 5,905 tons in August 2019.

Germany produced 2.830 million tonnes of steel in August 2020, down 13.4% from August 2019, while Italy produced 0.939 tonnes of steel per month, up 9.7% from a year earlier.

France produced 0.722 tonnes of crude steel in August 2020, 31.2% less than in August 2019. Steel production in Spain in August 2020 amounted to 0.696 million tons, which is 32.5% less than in the previous year.

“Brazil produced 2.7 million tons of steel in August 2020, which is 6.5% more than in August 2019. Steel production in Turkey in August 2020 amounted to 3.2 million tons, which is 22.9% more than in August 2019, ”Worldsteel said in a statement.