Global Crude Steel Output Rose 2.6% on Year in May
Post Date: 25 Jun 2013 Viewed: 345
Global crude steel output rose 2.6% on the year in May on the back of higher production in Asia, South America and Africa-Middle East, the World Steel Association said Thursday. These gains more than offset output declines in the European Union, Commonwealth of Independent States and North America.
Global crude steel production reached 136.3 million metric tons in May compared with 132.8 million tons the year earlier, as output from China, the world's largest steel producer, rose 7.3% on the year to 67 million tons in May.
The global crude steel production capacity utilization rate for the 63 countries that contributed figures to the association was 79.6% in May, compared with 80% the prior month, and was 0.9 of a percentage point lower than the year-earlier month. The association's members account for 85% of the world's steel output.
Asian crude steel production rose 5.7% on year to 91 million tons in May, buoyed by China and output increases of 4.3% and 1.5% in Japan and India, respectively, which more than offset a decline in South Korea.
South American crude steel production rose 2.1% on year to 4 million tons , buoyed by a 5.5% rise in Brazil. Output in Africa and the Middle East rose 0.6% on year to 3.2 million tons, while Turkish steel output dropped 2% on year to 3 million tons.
Crude steel production in the 27-nation EU fell 4.7% on year to 14.7 million tons as declines in Germany, Italy and France outweighed a rise of 4.3% in Spain.
North American crude steel production fell 5% on year to 10.2 million tons as U.S., Mexican and Canadian steel output dropped 4.9%, 4.2%, and 5.9%, respectively.
Crude steel output in the Commonwealth of Independent States dropped 1.7% on year to 9.4 million tons due to lower Ukrainian steel output, offsetting a slight rise in Russian steel output.