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STEEL PRODUCTION
Global steel output showing a strong upward trend
 
21st June 2010
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The World Steel Association reported on Monday that global steel production increased by 29,1% in May to 124,8-million tons of steel, compared with just over 96-million tons of steel produced in the same month a year earlier.

In the first five months of 2010, the associations' figures showed a 29,8% jump in crude steel production to just over 586-million tons of steel from 451-million tons of steel for the comparative period last year.

Asian giant China dominated the steel market and produced more than 56-million tons of steel during the month of May, which was almost ten-million tons, or 20,7%, more than in May 2009.

Total production from Asian markets in May amounted to just over 78-million tons of steel, a 22,7% boost in output compared with production for May the previous year.

South Africa's steel production showed a 23,2% increase in May 2010 to 715 000 t of steel from 580 000 t of steel in May 2009. Steel production from Africa for the month of May showed a general increase of 21,8% compared with the same month last year, with only Libya reporting an 11% drop in production.

Meanwhile, Europe's biggest steel producer, Germany, boosted its production by 87,7% in May to around four-million tons of steel, compared with 2,17-million tons of steel for May 2009.

Belgium showed a 120,5% spike in production, Slovenia a 272% increase in output and Sweden a 105,4% increase in production for May 2010, compared with May 2009.

Europe showed an accumulative leap of 51,2% in steel production to 16,3-million tons of steel in May this year, compared with 10,7-million tons of steel in May last year.

 

 

Edited by: Creamer Media Reporter
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Picture by: Bloomberg