Association News

Global steel production took a nosedive in August, the output of 144.8 million metric tons down 6.5 percent compared with the same month in 2023, worldsteel reported. For the year to date, global output of 1.25 billion tons is off 1.5 percent from the first eight months of last year. 

China is behind the massive decline, with output falling 10.5 percent to 77.9 million tons, consistent with the country's recent economic struggles. Chinese production of 691.4 million tons for the first eight months of the year is down 3.3 percent.

The U.S. was an outlier in August, increasing production 0.7 percent to 7 million tons. Year-to-date production of 53.8 million was down 1.78 percent.

For North America as a whole, production totaled 9 million tons in August, a 3.8 percent dip from 2023. Year-to-date production was at 71 million, down 3.9 percent.