Global crude steel production ticked higher last month, thanks largely to an increase in output from the world’s largest producer, China.
According to data released by the World Steel Association, total output rose to 134.215 million tonnes in August, up from 133.742 million tonnes in July.
The figure was up 1.9% on the levels of a year earlier. However, due to a slowdown seen earlier in the year, total output over the first eight months of the year stood at 1.0651 billion tonnes, down 0.9% on the same period in 2015.
Chinese production, larger than all other nations combined, came in at 68.57 million tonnes in August, up from 66.807 million tonnes in July. The August figure was up 2.6% on the same month a year earlier.
According to the data, Chinese output so far this year stands at 536.32 million tonnes, down 0.1% on the levels seen in the same period last year.
Year to date, Chinese production has accounted for 50.4% of total global production, helped in part to the government’s efforts to underpin economic activity through accelerating infrastructure spending, along with continued buoyancy in housing construction.
The chart below from the World Steel Association reveals how Chinese output levels currently compare to the rest of the world, both from a monthly and annual percentage change perspective.
And this table breaks down the individual performance of the 66 member nation’s that are tracked by the association. According to the group, members represent approximately 85% of global steel production.
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