Asia June Steel Production Down 2.1 Percent MoM

According to the latest statistics released by the World Steel Association, steel production in the Asian region, the world's leading steel market, declined 2.1 percent during June 2014 compared to May.

China's total crude steel production during June was about 69.294 million tons, down 1.62 percent from the previous month's production of 70.432 million tons. India produced 6.732 million tonnes of steel, down 3.04 percent from the 6.943 million tonnes achieved during May 2014.

Japan also reported a drop in average monthly crude steel production in June this year. Steel production in Japan for the given month fell 4.89 percent to 9.121 million tons, compared with 9.590 million tons a month ago.

South Korea's crude steel production in June this year fell slightly, by 1.91 percent, to 6.048 million tons from 6.166 million tons in the previous month. Taiwan's steel output in June fell 3.17 percent to 1.830 million tons, down from 1.890 million tons in the previous month.

The total steel production in the first six months of 2014 in Asia was in China - 411 909 thousand tons, India - 41 280 thousand tons, Japan - 55 225 thousand tons, South Korea - 36 082 thousand tons and Taiwan - 11003 thousand tons.