World steel production is falling, for the first time last year

Jakarta, CNN Indonesia –

production well the world fell 1.4 percent in August 2021 compared to the same period last year. To decrease Steel production in the past year for the first time in this world.

It is estimated that global steel production will continue to decline in the next few months, in line with main producer China’s policy to reduce pollution.

According to data from the World Steel Association (WSA), crude steel production fell to 156.8 million tons by August. The first drop in steel production since July 2020. In China, steel production plummeted by 13.2 percent to 83.2 million tons.

“As the authorities in China are proactively reducing production, further steel declines can be expected in the coming months,” said Caroline Bain, chief economist for raw materials at Capital Economics.

“However, it remains to be seen whether the Chinese authorities can stay on course, especially if prices rise or shortages arise,” Bain continued.

Earlier this month, China’s Environment Ministry announced plans to include more cities in its air pollution campaign in winter 2021 as the government tries to clean up smog-filled skies.

Other countries, meanwhile, saw higher steel production as prices rise and global demand rebounded.

Japan, for example, recorded an increase in steel production of up to 22.9 percent in August compared to the same period last year.

Meanwhile, the US saw steel production grow by 26.8 percent and India by 8.2 percent.

[Gambas:Video CNN]

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