Slowdown for Chinese steel output

China’s steel production year-on-year has slumped by more than 10%, according to the latest output data.

According to the World Steel Association (worldsteel), Chinese output in August 2024 was 77.9 million tonnes (Mt), down 10.4% on the same month in 2023. Overall production for the first eight months of 2024 was 691.4 Mt, a fall of 3.3%.

India growth

On the other hand, India’s total in August grew to 12.3 Mt, an increase of 2.6% year-on-year and part of a 6.5% overall growth in 2024.

Of the other leading 10 steel producers, worldsteel reports that Japan produced 6.9 Mt, down 3.9%, the United States 7.0 Mt (+0.7%). Meanwhile, Russia is estimated at 5.8 Mt (-11.5%); South Korea 5.5 Mt (-2.2%); Germany 2.9 Mt (-0.5%); Turkey 3.1 Mt (+13.8%); Brazil 3.0 Mt (+7.3%) and Iran 1.4 Mt (-9.9%).