Global Steel Production in May 2010 goes up by 29.1 per cent

20-Aug-2010
According to a recent report of world steel association, the crude steel production for the 66 countries was just above 124 MMT in May 2010 which is 29.1% more than that of May 2009. While world crude steel total capacity utilization for these countries in May 2010 has dropped marginally from 83.4% to 82% yet it was about 15% more as compared to the same of the last year. China continues to be the driver for growth, but its impact is no longer as significant as output from countries like Japan and South Korea and the US has picked up during the past six months. [To see the figures refer to our post Global Crude Steel Production - May 2010 - A Comparison]

According to the world steel’s production reports, the global crude steel production in May’10 was 9.9% greater than in that of May’07, before the impact of the global economic crisis was felt. While some countries like China, South Korea and Turkey showed an increase in crude steel production in May this year as compared to May 2007, other countries like the US, Italy, Spain, Japan etc. have yet to reach pre-crisis production levels. However in anticipation of various good factors world steel production is expected to touch a new record figure in 2010. Global steel output in 2010 is forecast by MEPS at 1350 million tonnes. This represents an 11.1 percent increase on the anticipated 2009 outturn, which in turn, will be 8.4percent below the figure recorded in the previous twelve months.        

Source: worldsteel.org and metal-supply.com