Global steel production up in September thanks to China

Worldwide steel production increased month-on-month for the second month by another 1.4%, based on WSA data.

As for China, its steel production in September rose 17.6% year on year to 87 million tons, compared with a growth of just 0.5% year on year in the previous month. Meanwhile, according to the WSA, the tonnage also increased in the second month by another 3.7% compared to the previous month.

Consequently, China's contribution to global steel production in September was 57.4%, up from 56.1% in the previous month, according to official data from Mysteel Global.

Meanwhile, total crude steel production in the other 63 countries still fell 10.5% year on year to 64.7 million tons last month, more than the 8.4% year on year drop in August, according to WSA data.

According to the data, in January-September, the total production of crude steel in 64 countries decreased by 4.3% year on year to 1.41 billion tons.

Among the world's top 10 steelmaking nations, both India and Iran recorded year-over-year increases in steel output in September and in the first nine months of this year, with output up 1.8% and 6.4% year-on-year to 9.9 . million tons and 93.3 million tons, respectively

On the other hand, Japan and the United States, the world's third and fourth largest steel producers, reported annual declines in production in September and for the cumulative period from January to September, WSA data showed.