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World Steel Production Fell 1.9% in the first half year

World Steel Association latest statistics released on the 20th shows that the first half of world steel production fell 1.9 percent to 794.8 million tons, mainly due to Production decline of  Europe and Latin America areas.

This iron and steel production statistics with covering 66 countries and regions show that the first six months of this year, the European steel production fell 6.1%, Latin America significantly fell 13.8%, a slight 0.6% decline in North America, Asia fell by 1.0%.

In June, world steel production has stabilized at 136 million tons. Chinese steel production reached 69.5 million tons in the month, an increase of 1.7%.

China is the world’s largest steel producer and consumer countries. To effectively resolve the excess steel production capacity, the Chinese government take effective measures in recent years.  Since 2011, China’s steel production capacity has eliminated more than 9,000 tons. Meanwhile, Chinese steel companies are initiative to cut production according to market demand, and committed to reduce 150 million tons of steel production capacity before 2020.

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