Market Data
March 26, 2021
Global Steel Production Jumps in March
Written by David Schollaert
As the world continues to work itself back from the doldrums of the COVID health pandemic, global crude steel production seems to be hitting its stride as it strives to catch up with rising demand. Except for Brazil, which saw no change in crude steel production month on month, all the top 10 global producers and regions experienced production growth in March compared to the month prior. Eight out of 10 saw double-digit percentage growth.
Global crude steel production totaled 169.2 million metric tons in March, up 15.2% from the same month last year when production was 146.9 million metric tons, and up 12.7% when compared to the month prior, reported the World Steel Association. The notable increase is a positive turn after February’s output was the lowest since July 2020. Global crude steel production totaled 486.9 million metric tons through the first three months of 2021, up by 10.0% compared to the same period in 2020. Moreover, the Q1 data is especially positive as it compares favorably to the same period last year, most of which was pre-pandemic, indicating that the global steel market has made a substantial recovery.
