U.S. steel production fell 15.3% year-over-year to 6.1 million tons in October, according to the World Steel Association.
The Brussels, Belgium-based steel association reported global steel output rose 7% to 161.9 million tons year-over-year in October.
China again led the world in steel production by a wide margin, single-handedly accounting for nearly two-third of the world's steel production, and making more than 10 times as much steel as any other country. China — which has a state-run steel industry not subject to the same market forces as everyone else — produced 92.2 million tons of steel in October, or 12.7% more as compared to October of 2019. Second-place India produced 9.1 million tons of steel in October, up 0.9% year-over-year. Japan made 7.2 million tons of steel last month, down 11.7% as compared to the same point a year earlier.
The United States took back its place as fourth biggest steelmaking country in the world from South Korea, which make 5.9 million tons, down by 1.8% year-over-year.
In the European Union, steel production rose 3.1% to 3.4 million tons in Germany. It fell by 4.6% to 2.1 million tons in Italy and by 7.7% to 1.1 million tons in Spain.
In the post-Soviet republics in Eastern Europe and Eurasia, output rose 4.7% year-over-year to 8.4 million tons in October, the World Steel Association reported. Ukraine made 1.7 million tons of steel, an increase of 5.9% year-over-year.
Turkey produced 3.2 million tons of steel in October, a 19.4% increase, while steel output in Brazil rose by 3.5% to 2.8 million tons of steel.
Steel prices have been rising in the United States after the latest round of consolidation was announced, according to the steel pricing website Steelbenchmarker. In the United States, hot-rolled band rose 4% to $789 a ton and cold-rolled coil 3% to $973 a ton, while standard plate remained increased by 6% to $773 a ton.
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