Figures published by the World Steel Association this week show that global crude steel output was 2.7% higher in July compared to the same month in 2012.

This increase has been buoyed by an increase in production from America and China, an increase which was enough to counter decreases in output from other parts of the world.

Total crude steel output for July was 132.3 million metric tons, up from 128.9 million tons in July last year. The most notable increase in July was seen in China where the total output of 65.5 million tons was up 6.2% year-on-year, and other increases were seen in Japan (0.5%), India (4.3%) and Taiwan (19.8%) while output in South Korea dropped.

Across the Pacific in The Americas, the increase of 3.3% year-on-year in the United States was offset by declines in Canada and Mexico, leaving production flat at 10 million tons.

Argentinian and Venezuelan output rose by 34% and 27% respectively, leaving the rise in production for South America up 2.7% year-on-year in July.

Steel production dropped 6% on year to 13.4 million tons in the European Union, seeing declines in German, French, Italian and Spanish steel production.

Post By Marc