GLOBAL steel production has continued to show “decent growth” in the first half of this year, rising 4.6% year-on-year to 881.5m tonnes according to Worldsteel data.
Maritime analysts Banchero Costa, who sifted through the data, noted that China, the world’s largest producing country, lead gains in steel production, rising 6% year-on-year to 451.2m tonnes in the first half of 2018
Output from Japan, the world’s second largest producing country, rose 1.3% year-on-year to 53m tonnes in the first half of 2018. According to Japan’s Ministry of Economy, Trade and Industry (METI), Japanese steelmakers plan to lift crude steel production to 27.1m tonnes in ther 2018 third quarter.
According to Banchero Costa, India continues to threaten to overtake Japan as the world’s second largest producing country.
“India’s steel production has been driven by new capacities coming online, with the country aiming to achieve an ambitious 300m tonnes in steel-making capacity by 2030,” BC reported.
Steel production trends are a big influence on iron ore exports from the Pilbara.