Global crude steel production, as gauged by the 65 countries reporting to the World Steel Association, fell by 2.0% year-on-year in the 1h15 to 813 Mt. Unless there is an upturn in production levels during the 2h of at least 1.4% from the first six months of 2015, global steel output this year is on course for its first annual decline since 2009. In volume terms, the majority of the 17 Mt annual decline occurred in the main steelmaking hubs of Far East Asia. Chinese steel output in the 1h15 fell 5.4 Mt (-1.3%) year-on-year to 410 Mt, with annual declines experienced in every month of the year (see first chart, right). In addition, Japan, the world's second-largest producer, saw 1h output fall 2.6 Mt (-4.7%) to 52.6 Mt, while South Korean steel mills produced 34.5 Mt, down 1.8 Mt (-4.9%).
展开▼
