According to data released by the World Iron and Steel Association on January 25, the world crude steel output in 2018 increased by 4.6% compared with 2017, reaching 1.88 billion tons, a record high for two consecutive years. India surpassed Japan for the first time, ranking second only to China in the world. In India, which continues to promote infrastructure construction, there is a strong demand for construction steel. Japan is also focusing on the demand related to the Olympic Games. Domestic demand for iron and steel has increased, but production has been reduced due to disasters and equipment failures.
India's crude steel production grew by 4.9% in 2018 to 16.5 million tons, about double in the past 10 years. Japan dropped 0.3% to 143 million tons, a four-year decline. Since 2000, Japan's crude steel output is second only to China's, but it is now falling to the third place. With the increase of redevelopment projects related to the Olympic Games, the demand for steel for construction is strong, but due to disasters and equipment failures, the production has been suspended continuously and the strong demand has not been fully utilized.
China's crude steel output grew by 6.6%, reaching 928.3 million tons, increasing for three consecutive years. Production growth is largely due to government policies. The government has cleaned up the inferior "floor steel" and the production of formal enterprises has increased.
Crude steel production in the United States increased by 6.2% to 86.7 million tons, increasing for two consecutive years. Influenced by the Trump government's import tariffs, steel sales prices are also rising. American steel companies remain prosperous.