World Steel has shown a completely different behavior in the years 2021 and 2020. The World Steel Association evaluates global steel production in monthly and quarterly reports. World Steel produced a total of 150.2 million tonnes of crude steel in February 2021, down 8 percent month-on-month but up 4 percent from February 2020, the World Steel said in a monthly report on March 23. Stay tuned to Artan Press.
*** Significant decline in global steel production in 2020
Compared to February 2020, most regions reported a decline in crude steel production, led by North America (8.9% decrease), the European Union (7.1% decrease) and Africa (6.4% decrease). By early 2020, the steel industry had not yet been hit hard by the Corona crisis and had not welcomed it. For this reason, the data in this section has been lower than last year’s comparison.
*** Evaluate the steel production performance of China and South Korea
As for China, there are always surprises in the industrial market. China – the world’s largest steel producer – produced about 83 million tonnes in February 2021, up 10.9% from February 2020. Total crude steel production in South Korea grew by 1.2 percent year-on-year to about 5.5 million tons in February. This growth, along with the growth of Chinese steel production, can be assessed.
*** Strategic relationship between Japan and India steel industry
Production in India was 9.1 million tonnes, down 3.1%, while Japan fell 5.6% to 7.5 million tonnes. Indian steel and Japanese steel have a significant convergence with each other. This is because in 2020, significant trade agreements were signed in the steel sector of China and Japan, which led to the convergence of markets and steel industries.
*** The latest EU steel production report
Crude steel production for February 2021 in the 27 EU countries amounted to 11.9 million tons, which is a decrease of about 7.1% compared to the same month in 2020. Production in Germany after four months of 10.4% annual recovery to about Decreased by 3.1 million tons. Germany was one of the countries that took the closure of factories more seriously than other countries.
*** America; Recorded the largest decline in global steel production
The United States continued to report the largest decline in crude steel production among the top 10 steel-producing countries, while February as a whole fell 10.9 percent year-on-year to 6.3 million tons.
*** The share of CIS countries in global steel statistics
In the Commonwealth of Independent States (CIS), total crude steel production fell to 8 million tonnes in February 2021, down 1.5 percent from a year earlier. Russia, meanwhile, produced 5.7 million tonnes of steel, down 1.3 percent from the same month last year.
*** Growth of Iranian steel production according to reports
Turkey’s crude steel production for February was 3 million tons, up 3.4 percent year on year. Brazil produced 2.8 million tons in February 2021, up 3.8 percent from a year earlier, while Iran was estimated to have produced 2.3 million tons in the same period, up 11.5 percent from 2020. Has increased – the highest increase among the top 10 steel producers is allocated to Iran.
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