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The Mid-2009 State of Global Steel ...
The Mid-2009 State of Global Steel Production
2009-08-03 09:38:31
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Most major steel-producing countries dropped in their crude steel output in the first six months of 2009, with only a few exceptions. However, the pace of contraction slowed in June.
World steel output declined by 21.3 percent in the first half of 2009 compared with the first half of last year, the World Steel Association (worldsteel) reports. Total crude steel production in the 66 reporting countries for the first six months of 2009 was 549 million metric tons.
Most major steel-producing countries dropped in their crude steel output in the first six months of 2009, with only China and Iran increasing output during the same period, by 1.2 percent and 12.1 percent respectively.
However, the main industry group said the pace of contraction slowed in June, with steel production falling at a slower pace last month when compared with May's 21 percent drop in global output.
China's crude steel production rose 6 percent higher in June, and Iran produced 9.4 percent more than the same month last year.
However, the main industry group said the pace of contraction slowed in June, with steel production falling at a slower pace last month when compared with May's 21 percent drop in global output.
China's crude steel production rose 6 percent higher in June, and Iran produced 9.4 percent more than the same month last year.
Japan produced 33.6 percent less crude steel last month than in June 2008, and South Korea recorded a 14.4 percent decline from the same time last year. Brazil produced 33.9 percent less crude steel than it did in June 2008. Russia's crude steel production for June 2009 was 22.1 percent less than in the same month last year, and Turkey's output dropped 12.7 percent.
Global steel output fell last year after climbing for six years on higher demand for the metal that supports buildings and goes into making machinery and automobiles. In 2008, the world steel industry produced more than 1.33 million metric tons of steel, down from 1.35 million in 2007, according to worldsteel's 2009 edition of World Steel in Figures, released in late June. The top five steel-producing countries in 2008 were China (500.5 million metric tons), Japan (118.7 million), U.S. (91.4 million), Russia (68.5 million) and India (55.2 million).
Global steel output fell last year after climbing for six years on higher demand for the metal that supports buildings and goes into making machinery and automobiles. In 2008, the world steel industry produced more than 1.33 million metric tons of steel, down from 1.35 million in 2007, according to worldsteel's 2009 edition of World Steel in Figures, released in late June. The top five steel-producing countries in 2008 were China (500.5 million metric tons), Japan (118.7 million), U.S. (91.4 million), Russia (68.5 million) and India (55.2 million).
"The market has been turbulent over the last three decades but today the industry is more efficient and better prepared thanks to global restructuring and consolidation," according to industry group's latest annual report. "The long-term prospect for the global steel market is strong. The speed of growth might have slowed down but the industry will continue to grow in different ways."
Consolidation in China, capacity expansion in emerging markets and, in developed countries, steelmakers' continued shift from volume to value are expected to make the global steel industry more competitive and more efficient as the world economy recovers.