World Steel Output Still Growing
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World crude steel production for the 66 countries reporting to the & #160;World Steel Association continues to rise, topping 124.1 million tonnes (mt) in May, up sharply on & #160;May of last year.It was also around 3.5 million tonnes higher than the 120.4 million tonnes produced in April, according to Worldsteel figures which also showed the May figure was 29% above that of May 2009.But there was a slight dip in capacity utilisation in May, a sign perhaps that demand may be topping out.The world crude steel capacity utilisation ratio of the 66 countries in & #160;May 2010 slightly declined to 82% from 83.4% in April 2010.But compared to & #160;May 2009, the utilisation ratio in & #160;May 2010 increased by & #160;15 percentage points, Worldsteel said.But the May figure was still well under the 90.6% reached in May 2008.China continues to be the main driver for growth, but its impact is no longer as significant as output from countries like Japan and South Korea, and the US has picked up in the past six or so months. & #160;China's crude steel production for 2010 was 56.1 mt, an increase of 20.7% compared to May 2009 and up on April's figure of 55.4 million tones (mt).Elsewhere in Asia, Japan produced 9.7 mt of crude steel in May 2010, up 50.2% compared to the same month last year and up nearly 9% on April.South Korea's crude steel production for May 2010 was 5.2 mt, 28% up compared to the same month last year and 400,000 tonnes higher than April's 4.8 million tonnes.In the EU, Germany's crude steel production for May 2010 was 4.1 mt, an increase of 87.7% on May 2009 and higher than April's 3.9mt. Italy produced 2.5 mt, 42% higher than the same month in 2009 and up 100,000 tonnes from April.Spain produced 1.6mmt of crude steel in May 2010, an increase of 24.9% compared to May 2009, but unchanged from April.Turkey produced 2.5 mt of crude steel in May 2010, an 18.8% increase over the same month in 2009 and 100,000 tonnes above April's output.The US produced 7.2 mt of crude steel in May 2010, an increase of 73.8% compared to May 2009 and 400,000 tonnes from April.Brazilian crude steel production was 2.9 mt, 50.8% higher than May 2009 and 200,000 tonnes higher than April.Worldsteel said that global & #160;crude steel production in May 2010 was 9.8% higher in comparison with May 2007, before the impact of the global economic crisis was felt. & quot;However, while China, South Korea and Turkey showed increased crude steel production in May 2010 compared to the same month 2007, the US, Italy, Spain and Japan are not yet back to pre-crisis production levels. & quot;The EU is down 18%, North America 14% lower and Latin America off 8% down on the five months to May total in & #160;2007. & quot;Australian production in May was 612,000 tonnes, down on the 696,000 produced in May 2007, but & #160;up on April's 574,000 tonnes.Production in May 2009 was just 318,000 tonnes. The BlueScope Number 5 blast furnace at Port Kembla was down for relining a year ago, so it wasn't producing. & #160;
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Daniel Kertcher established Platinum Pursuits in 2001 as a vehicle in which to share his knowledge of strategies to use the financial markets to grow wealth, with the aim of achieving financial freedom by making your money work for you.
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