Economy
September 5, 2018
Chinese Continue to Lead Global Steel Production
Written by Peter Wright
Global steel production in July hit an annual rate of 1.855 billion metric tons. Capacity is calculated to be 2.38 billion metric tons; therefore, capacity utilization was 78 percent, according to the latest Steel Market Update analysis of World Steel Association data.
In three months through July, Chinese production grew by 10.5 percent year over year as the rest of the world grew by 2.3 percent. In 2018, China has increased its share of global steel production, which in June hit an all-time high of 52.7 percent, declining slightly in July to 52.6 percent.
