Global crude steel output falls 12.4 per cent in October

World crude steel production for the 66 countries reporting to the Worldsteel was 100.5 million metric tons (mmt) in October. This is 12.4 per cent lower than the same month last year and 6.9 per cent below September 2008, figures from the Worldsteel showed.

Total world crude steel production was 1,136.2 mmt in the first 10 months of 2008, a 2.9 per cent increase over the same period in 2007. In October 2008, the world crude steel production moving annual total (MAT) growth rate further slowed to 3.0 per cent from 4.7 per cent last month.

China's crude steel production for October 2008 was 35.9 mmt, a decrease of -17.0 per cent on October 2007 and -9.4 per cent on September 2008. In the first 10 months of 2008, China produced 427.3 mmt of crude steel, an increase of 3.9 per cent compared to the same period in 2007.

Overall, Asia produced 56.9 mmt of crude steel in October 2008 compared to 64.4 mmt in October 2007, a  -11.6 per cent decrease in crude steel production. Japanese production was 10.1 mmt, down by -2.7 per cent compared to the same month last year. India and South Korea showed an increase in October 2008, producing 4.8 and 4.6 mmt of crude steel respectively.

In the EU, Germany produced 3.9 mmt of crude steel in October 2008, a decrease of -7.7 per cent from October 2007. Italy's crude steel production was 2.6 mmt, down by -12.2 per cent compared to the same month last year. France showed an increase of 16.1 per cent from October 2007, producing 1.6 mmt in October 2008.

In the CIS, 7.0 mmt of crude steel was produced, a decrease of -32.6 per cent compared to the same month last year. Russia produced 4.5 mmt, -27.1 per cent less than in October 2007 and Ukraine produced 1.9 mmt, a decrease of -48.7 per cent.

North American crude steel production in October 2008 was 12.9 per cent below that of October 2007, but South America was just 0.8 per cent down on October 2007.

World Steel Association (worldsteel), formerly the International Iron and Steel Institute (IISI),   represents approximately 180 steel producers (including 18 of the world's 20 largest steel companies), national and regional steel industry associations, and steel research institutes. worldsteel members produce around 85 per cent of the world's steel.