Global Steel Recovery Slowed in June

Global raw-steel production slipped to 167.9 million metric tons during June, down -3.87% from May – with corresponding month-over-month declines in most of the largest steelmaking nations. Even so, the latest data shows a 11.6% improvement over the year-ago (June 2020) total. More to the point, year-to-date steel output in the 64 countries tracked by the World Steel Assn. has passed 1 billion (1.004) metric tons and stands 14.4% higher than the six-month total for 2020. The World Steel Assn. figures represent about 98% of global raw-steel output – meaning carbon steel, produced in basic-oxygen or electric arc furnaces and cast into semi-finished forms like billets for bar and rod products; slabs for flat products; or blooms, for beam and pipe products. Specialty and stainless steel are accounted separately.