Steel Products Prices North America
World Steel Production Up Nearly 5 Percent This Year
Written by Tim Triplett
September 27, 2018
World crude steel production increased by 2.6 percent in August and was up by 4.8 percent through the first eight months of 2018. Leading the way was China with a 5.8 percent increase in production for the year to more than 617 million metric tons, reports the World Steel Association. WSA members represent about 85 percent of the world’s steel production.
U.S. steelmakers produced 7.5 million metric tons of crude steel in August, an increase of 5.1 percent compared to August 2017. For the first eight months, U.S. steel production increased by 4 percent to 56.9 million tons.
For the month of August, China’s crude steel production totaled 80.3 million tons, up 2.7 percent compared to August 2017. India produced 8.8 million tons, an increase of 3.7 percent. Japan also produced 8.8 million tons, up 0.9 percent. South Korea’s crude steel production was 6.1 million tons in August, unchanged from its August 2017 production. Turkey’s production for August totaled 3.0 million tons, down by 5.7 percent.
In the EU, Spain produced 1.2 million tons, up by 6.6 percent. Italy produced 1.2 million tons, up by 6.0 percent, and France’s crude steel production for the month decreased by 16.8 percent to 900,000 tons, reported WSA.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.
SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.