World crude steel production increased in 2018. Europe is the only exception
According to the latest report of the World Steel Association, global crude steel production has increased by 4.6% in 2018, going from 1729.8 Mt of 2017 to 1,808.6 Mt.
A growth that affected all the main world regions, with the exception of Europe.
In particular, Asia experienced an increase in production of 5.6% compared to 2017, with China and India respectively up by 6.6% and 4.9%. China’s share of global crude steel production reached 51.3% while India has replaced Japan as the world’s second largest steel producing country.
Middle East saw a huge growth too, with about +12% on 2017. Iran led the way with 25.0 Mt produced in 2018, 17.7% more than the previous year. This incredible growth was certainly influenced by the lifting of the UN sanctions on the country in 2016 (new sanctions were introduced by the US in November 2018).
Good results came also from United States and South America, respectively up by +6.2% and +4.1%.
A negative note comes from Europe, which saw a contraction of 0.3% on 2017. With Germany down by 2.0%, France down by 0.7% and Spain down by 0.1%, Italy has been the only country with a rising production (+1.7% on 2017).
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