Global Steel Output Up Marginally By 1.9% in February
Combined steel output by the world's various steel-making countries grew marginally in February, up by 1.9 per cent to 119 million tonnes compared from a year ago, the World Steel Association (WSA) said on Tuesday.
Of the total figure, China gave the biggest contribution with its registered 3.3 per cent hike in production to 55.9 million tonnes, followed by South Korea at 7.6 per cent, corresponding to an increased yield of 5.4 million tonnes, the association pointed out.
U.S. steel production likewise jumped 8.5 per cent to 7.3 million tonnes in 2011.
Meanwhile, last year's steel production in the eurozone plummeted 3.8 per cent to only 14 million tonnes in the second month of the year. Germany, the region's top steel producer, fell 3.1 per cent. However, Italy and France proved to be a saving grace, as production grew 4.5 per cent and 9.3 per cent, respectively.
Other member countries such as Japan produced only 8.6 million tonnes crude steel, down by 3.7 per cent. Spain contributed 1.2 million tonnes which was 14.3 per cent lower compared from the previous year. Turkey gave 12.3 per cent more crude steel output at 2.8 million tonnes compared to last year.
Brazil also saw an increased steel output, jumping 3.4 per cent to 2.8 million tonnes. But South Africa produced only 640,000 tonnes of crude steel, 5.3 per cent less from last year.
An association composed of 170 global steel producers, including 17 of the 20 biggest companies, the WSA is mainly responsible for about 85 per cent of the world production in steel.
The monthly crude steel capacity usage ratio is calculated based on crude steel production and capacity information available at WSA. The capacity information is based on publicly available data, updated twice a year and verified through its membership.