The most recently released data shows that global steel production totaled approximately 151.4 million tons in June. This is down month-on-month by 7.4 million tons (-4%) and is down year-on-year by 10 million tons (-6%). Steel production outside of China totaled approximately 68.2 million tons last month. This is down month-on-month by 4 million tons (-6%) and is down year-on-year by 1.7 million tons (-2%).
Steel production ex-China has now either contracted on a year-on-year basis or has been flat during eight of the last ten months. However, taking India out of the equation, it has contracted on a year-on-year basis during all ten of these months.
India’s steel production has remained quite strong. Indian steel production totaled 13.6 million tons in June. This is up month-on-month by 100,000 tons (1%) and is up year-on-year by 1.3 million tons (11%). India’s steel production has now grown for twenty-eight straight months.
