Economy
September 5, 2018
Global Steel Production Surges as China Increases its Share
Written by Peter Wright
Global steel production in August achieved an annual rate of 1.821 billion metric tons. Capacity is calculated to be 2.4 billion metric tons; therefore, capacity utilization was 76 percent, according to the latest Steel Market Update analysis of World Steel Association data.
In three months through August, China’s steel production grew by 9.0 percent year over year as the rest of the world grew by 2.2 percent. China continues to increase its share of global steel production, which in August hit an all-time high of 52.9 percent.
