Steel Production Fell in March. Here’s How Much.
04/27/2020 - Global crude steel production fell approximately 6% in March, but a more precise reading won’t be available for another month, according to the latest production tally from the World Steel Association.
According to the association, March production dropped to 147.1 million metric tons as the world’s economies closed up due to the COVID-19 pandemic. Production was down from 156.5 million metric tons in the same month last year.
However, the association said the tally doesn’t offer a complete picture.
“Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates from national and regional associations, which may be revised with next month’s production update.”
But based on data available so far, North American production receded by 9.4%, falling to 9.66 million metric tons. In the U.S., production fell 6% to 7.22 million metric tons.
Meanwhile, EU production fell 20% to 12 million metric tons. Italy, which has been among the hardest hit countries, saw its production drop 40% year over year to 1.37 million metric tons. Production in Asia fell 4.1% to 105.7 million metric tons.