Global Demand Paces Another Rise in Steel Output

Global steelmakers produced 145.25 million metric tons during October, +5.9% y/y and +5.2% YTD Steelmakers around the world combined to produce 145.25 million metric tons of raw steel during October, improving on the September total by 2.6% and besting the October 2016 result by 5.9%. The results for 66 countries, reported by the World Steel Association, continue to demonstrate a renewed stability in global manufacturing and construction markets, following more than two years of weak demand and instability. Through the first ten months of 2017, the global steel industry has produced 1.41 billion metric tons of raw steel, 5.2% more than during the comparable January-October period of 2016.