U.S. steel production rose by 0.3% year-over-year in August, as compared to a 3.4% increase worldwide, led by a 9.3% surge in China.
The World Steel Association reported the United States made 7.5 million tons of steel in August.
China's largely state-run and heavily subsidized steel industry produced 87.3 million tons of steel in August, again making roughly as much steel as the United States does in a year, and leading the world by a wide margin. Japan came in second worldwide in August when it made 8.1 million tons of steel, which was down 7.9% as compared to August 2018, according to the Brussels, Belgium-based trade association.
In August, steel production rose 0.8% to 3.3 million tons in Germany, 11.2% to 1.1 million tons in France, and 8.5% to 1.9 million tons in Ukraine, according to the World Steel Association. Steel output fell that month by 2.6% to 5.9 million tons in South Korea, 26.7% to 0.9 million tons in Italy, by 4.6% to 1.1 million tons in Spain, by 13.4% to 2.5 million tons in Brazil, and by 12.4% to 2.6 million tons in Turkey.
Output increased worldwide while prices remained depressed at 2016 levels.
In the week that ended Sept. 23, the price of hot-rolled steel band fell 1% to $629 a ton in the United States, according to the steel pricing website Steelbenchmarker. The price of cold-rolled steel dropped 2% to $828 a ton, while the price of standard plate increased by 5% to $844 a ton.