World Raw Steel Output Drops 12.4% in October

Crude steel output in 66 countries decreased by 12.4% to 100.513 million tonnes in October from a year earlier, which represented decline 2 months in a row, announced by World Steel Association on Wednesday. The output in China decreased by 17.0% to 35.901 million tonnes, which also represented decline 2 months in a row and in Brazil showed first decline in about 2 years. The output in developing countries, which led the world production growth, decreased. The world output could decrease in 2008 from 2007, which is the first drop in 10 years, depends on the result of rest 2 months though totaled output in January-October 2008 increased compared with corresponding period in 2007.

In September, total crude steel production in 66 countries showed first decline since December 2001 and production in China took a downward turn since October 2000. Countries’ and China’s decline in this October expanded to two-digit compared with a year earlier. Total production of BRICs decreased by 15.5% to 48.117 million tonnes in October from a year earlier due to only India increased its production.

Total output in 66 countries increased by 2.9% to 1.1362 billion tonnes in January-September from same period in 2007. When the output in November and December become as much as October, totaled output in 2008 stayed at 2007 level while the output in 2008 would show first decline since 1998 if the output in rest 2 months represent further decrease.