Cairo: Hani Kamal El-Din
Steel production in Russia plunged by 11.5% compared to the same month last year, reaching 5.8 million tons. This alarming decline was reported in the latest report from the World Steel Association (WSA), indicating ongoing challenges within the sector.
From January to August, total steel production in Russia fell by 4.9%, amounting to 48.5 million tons. These figures reflect a troubling trend for the Russian steel industry, which has experienced a decline for the second consecutive month; after a reduction of 3.1% in July, the August figures saw a further drop of 500,000 tons.
Meanwhile, the situation in other Commonwealth of Independent States (CIS) countries also remains dire. In August, these nations produced 7 million tons of steel, representing an 8.7% decrease year-on-year. Over the first eight months, the region manufactured 58.1 million tons, down by 1.8%.
In contrast, China stands out as a leading producer, despite a 10.4% annual decline in its output. In August, China produced 77.9 million tons of steel, maintaining its position at the top of global production. Meanwhile, countries in Asia and Oceania collectively reported 107.1 million tons, reflecting an 8% decrease.
Conversely, some nations have increased their steel production. India, for example, raised its output by 2.6% in August, reaching 12.3 million tons. The United States saw a 0.7% increase, hitting 7 million tons, while European Union countries produced 9.1 million tons, improving their previous year’s performance by 2.2%.
At the end of August, Bloomberg reported that the Russian steel industry is showing growth amid a global downturn in the sector. The demand for steel in Russia has risen due to special operations, which have boosted construction and infrastructure projects.
