World Steel Association has released the “April 2020: Crude Steel Production Update”. For this, 64 countries reported to the World Steel Association about the production of steel took place in all the respective countries. As the the whole world is battling with the COVID-19 pandemic, many of April 2020’s figures are estimates that may be revised with next month’s production update.
About World Steel Association:
The World Steel Association is a non-profit organisation, headquartered in Brussels, Belgium. It was established as the International Iron and Steel Institute on 10 July 1967, and later changed its name to the World Steel Association on 6 October 2008. It is one of the largest and most dynamic industry associations in the world, with members in every major steel-producing country. It constitutes steel producers, national and regional steel industry associations, and steel research institutes. Its members alltogether represents about 85% of the total global steel production.
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The World Steel Association is active in key areas of interest to the steel industry such as Communications, Construction, Raw materials, Safety and health, Sustainability, and Technology.
What is Steel?
Steel is an alloy of iron and carbon containing less than 2% carbon and 1% manganese and small amounts of silicon, phosphorus, sulphur and oxygen. It is the world’s most important engineering and construction material. It is used in various facets of our lives such as in cars and construction products, refrigerators and washing machines, cargo ships and surgical scalpels.
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Key results of the “April 2020: Crude Steel Production Update”:
- World crude steel production for the 64 countries reported to the World Steel Association was 137.1 million tonnes (Mt) in April 2020 which shows a 13.0% decrease as compared to April 2019.
- In April 2020, 85.0 Mt of crude steel was produced in China citing an increase of 0.2% compared to April 2019.
- In April 2020, 3.1 Mt of crude steel production took place in India, indicating a downfall of 65.2% as compared to that of April 2019.
- Crude Steel production in Japan amounted to 6.6 Mt in April 2020 i.e. down by 23.5% as compared to that of April 2019.
- Crude Steel Production in the European Union (EU) is estimated to be 10.7 Mt in April 2020, facing a downfall of 22.9% on April 2019.
- In April 2020, the US produced 5.0 Mt of crude steel which is a decrease of 32.5% as compared to that of April 2019.
- Crude Steel Production in the Commonwealth of Independent States (C.I.S.) is estimated to be 6.6 Mt in April 2020, down 22.6% on April 2019.
- In April 2020, the crude steel production in Brazil was 1.8 Mt, experiencing a downfall of 39% as compared to that of April 2019.
The April 2020: Crude Steel Production Update indicated that the crude steel production activities has experienced a slowdown all over the world leading to reduced production of steel.