Crude Steel Capacity Utilization Ratio Surged to 74.5%: worldsteel

Mining News- The world crude steel production by 64 countries reporting to the World Steel Association (worldsteel) totaled 148.3 million tonnes (Mt) in March 2018, notably higher by 4% when compared with the production during the same month a year before. It must be noted that these 64 countries had accounted for almost 99% of the world crude steel output in 2017.

In accordance with worldsteel statistics, the crude steel production by world countries totaled 148.330 million tonnes (Mt) in March this year, higher by 4.0% when compared with the year before. The steel output by these countries had totaled only 142.681 Mt in March last year.

China’s monthly crude steel output surged higher by 4.5% to 73.980 Mt in March 2018. The second largest producer was India with an output of 9.227 Mt, followed by Japan with 9.082 Mt. In the EU, Italian crude steel output was up marginally by 1%. The Turkish steel production surged higher by 7.6% on March 2017. The U.S. and Brazil recorded jump in production by 5.3% and 7.6% respectively.

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The crude steel capacity utilization ratio by all the above 64 countries surged higher from 72.3% in March last year to 74.5% in March 2018.