World Steel Association provided August data
The World Steel Association provided August data on steel production. In accordance with them, 66 countries, which are members of the Association, produced 134.1 million tons of steel. However, this result does not exceed much in July. The volume of smelted steel in August reached 133.9 million tons. However, in comparison with August 2015, the result improved by 1.9%. In December 2014 - this is the highest growth rate, demonstrated by the industry. The average August figures for daily production reached 4.33 million tons. This indicator is slightly lower than in the past eight months. Over the eight-month period, the level of daily steel smelting averaged 4.365 million tons. However, this result is higher than the July figure, which reached 4.32 million tons. The level of loading of production global capacities in August was 68.5%. This result exceeds the July figures by 0.1 percentage points. Compared with the same period last year, the indicator improved by 0.5 percentage points.
World output became the countries providing the Association's reports for the eight-month period, reached 1,065.1 million tons. From last year's indicators, the lag was reduced to 0.7%. At the same time, according to the Association, in the first half of the year it was 1.8%. In the rest of the world - excluding China - the August steel output exceeded last year's figures by 0.9%. The growth of the results is confirmed during the second consecutive month. Before that, for 17 months there was a drop.
In August, the PRC smelted 68.6 million tons of steel. Compared to the same period last year, growth was 3%. For China, this figure is also the highest since December of the year before last. During the eight-month period, metallurgists of China produced 536.3 million tons of steel. This result exceeded schedule last year. Growth at the same time reached 0.2%, which is slightly less than 1 million tons. However, India continues to occupy the first place in the growth of metal production. Such results became possible due to the new policy of the country. Protectionist actions are aimed at reducing imported volumes. Thanks to this approach, Indian metallurgists are confidently expanding the percentage of the domestic market. At the same time, the production of products also increases. August's growth rate of Indian production set another record. They amounted to 9.4% compared to August 2015. During the eight-month period, metallurgists of India produced 63.2 million tons of steel. Compared to last year's figures, growth was 5.6%.
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