Brussels – World crude steel production for the 66 countries reporting to the International Iron and Steel Institute (IISI) was 112.2 million metric tons (mmt) in August. This is 2.9% higher than the same month last year.

Total world crude steel production was 926.3 mmt in the first eight months of 2008, a 5.6% increase over the same period in 2007. In August 2008, the world moving annual total (MAT) growth rate further slowed to 5.5% from 5.8% last month.

In the first eight months of 2008, China produced 351.1 mmt of crude steel, an increase of 8.3% compared to the same period in 2007. In August 2008, China’s MAT growth rate continued to slow further to 8.6%, compared to its MAT growth rate peak of 26.3% in January 2006. China’s crude steel production for August 2008 was 42.6 mmt, an increase of 1.3% on August 2007.

Overall, Asia produced 63.8 mmt of crude steel in August 2008 compared to 62.2 mmt in August 2007, a 2.4% increase in crude steel production. India showed a 6.9% increase in August producing 4.7 mmt of crude steel.

In August 2008, the EU produced 15.8 mmt of crude steel, an increase of 1.8% and in the first eight months the EU produced 142.1 mmt, a 0.8% increase over the same period in 2007. Belgium showed a 16.5% increase producing 0.9 mmt of crude steel in August. The UK produced 1.1 mmt, a decrease of -3.5% compared to the same month last year.

Total crude steel production in North America was 11.7 mmt in August 2008, an increase of 6.5% on August 2007. The North America MAT growth rate again rose, to 6.0% from 5.4% last month. This is its ninth consecutive monthly increase.

South America recorded a 7.4% increase in crude steel production with 4.4 mmt in August 2008. Brazil produced 3.1 mmt, 6.9% higher than August 2007.

Source: International Iron and Steel Institute, September 19, 2008