Global Steel Production Up in February, But Down in U.S.

Global crude steel production totaled 150.2 million metric tons in February, up 4.1% from the same month last year, reported the World Steel Association. Despite the positive year-over-year result, February’s total was down 7.8% from January and was the lowest output since July 2020 when monthly production was 155.5 million metric tons. February’s data is notable as it’s the last month that year-over-year figures can be compared without being dramatically skewed by COVID, which hit in March last year.

The U.S. was the fourth largest crude steel producer in the world in February, accounting for 6.3 million metric tons or 4.2% of the global total. February’s U.S. production was down by 8.7% when compared to January, and down by nearly 11.0% year on year. China continues to produce more than half of the world’s steel at 55.3% or an estimated 83.0 million tons in February. China’ steel production was down by 8.0% from the prior month but up by 10.9% compared with February 2020.