Global Steel Production and Capacity Utilization in August 2015

Global steel production in 12 months through August totaled 1.615 billion tonnes with a capacity of 2.3 billion tonnes. Capacity utilization in August was 68.4 percent with a three month moving average (3MMA) of 69.1 percent, down from 71.6 percent in three months through June. China accounted for 50.5 percent of global production in August. Asia as a whole, including India, accounted for 69.0 percent. Production in August on a tons per day basis was 4.275 million tonnes, down from 4.539 in June which was the highest month of the year.

Tons per day declined in July and August. The seasonal pattern evident since the recession is subdued this year. Total August production was 132.535 million tonnes. If we look at the three month moving average and plot it over time, we see that there has been a significant decline in the second half of the year since and including 2010 which usually extends into February of the next year, after which production kicks up rapidly (Figure 1).