This one chart shows China's dominance of the global steel industry

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China produced more crude steel than the rest of the world combined in July, continuing the pattern seen in each of the past five months.

According to the World Steel Association (worldsteel), China produced a record 74 million tonnes (mt) of crude steel during the month, surpassing the previous record high of 73.2 mt set one month earlier.

From a year earlier, production in the world’s largest producer increased by a massive 10.3%, helping to underpin demand for iron ore and coking coal.

Source: worldsteel

Of the 66 other nations monitored by worldsteel, production rose to 69.2 mt from 68.1 mt in June, leaving total output up 2.3% on the levels of a year earlier.

Annual output rates increased for most major producers in July, lifting by 3.5% in India to 8.4 mt, 2.3% in South Korea to 6.2 mt and 5.6% to 7.1 mt in the United States.

Production levels in Japan fell over the same period, dropping 4.3% to 8.6 million tonnes.

Capacity utilisation across the global sector stood at 72.1% in July, up 3.2 percentage points on a year earlier but down 1.5 percentage points on the levels reported in June.

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