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[Ferro-Alloys.com] World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 152.7 million tonnes (Mt) in July 2020, a 2.5% decrease compared to July 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update.
China produced 93.4 Mt of crude steel in July 2020, an increase of 9.1% compared to July 2019. Japan produced 6.0 Mt of crude steel in July 2020, down 27.9% on July 2019. South Korea’s steel production for July 2020 was 5.5 Mt, down by 8.3% on July 2019.
The seaborne iron ore price hit more than six-year high Aug. 18, due to supply shortness of medium grade fines and a strong demand recovery in China post-pandemic.
Production disruptions in Brazil in the first half of 2020 due to the extended monsoon season and COVID-19-related precautionary measures weighed on the overall supply of iron ore fines.
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