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STEEL
World steel output plunges as demand wanes
 
18th December 2008
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Global steel producers have reduced output by 19% in November, when compared with a year earlier, the World Steel Association said on Thursday.

Its 66 member countries produced 89-million tons in November, the organisation stated.

Steel producers have slashed output as demand dropped sharply, reflecting the impact of the global economic crisis on steel-consuming industries.

Asia’s output fell by 11,4% to 54,1-million tons, with China slashing output by 12,4% to 35,2-million tons. Japanese production was down 8,8-million tons, or 12,9%, in November, when compared with the same month a year earlier.

In the European Union, Germany produced 3,3-million tons of steel, which was 18,5% less than in November 2007. Italy’s steel production fell by 16,5% to 2,3-million tons, while France reduced output by 29,1%, producing one-million tons last month.

The Commonwealth of Independent States’ output fell by 43,1% in November to 5,8-million tons. Russia produced 3,7-million tons, which was a decrease of 36,5%, and Ukraine produced 1,6-million tons, some 54,9% less than a year earlier.

South America crude steel production in November was 3,4-million tons, recording a 17,8% decrease compared with November 2007.

Edited by: Mariaan Webb
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