World steel output drops after 5yr rise

AFP, PARIS:  Reflecting a global economic slowdown, worldwide steel production dropped 2.8 per cent last year to 1.62 billion tons, just under half of the total produced by China, the World Steel Association said Monday.
Global steel production slipped back after five years of constant rises, with China, easily the world’s largest consumer and producer, last year producing 803.8 million metric tons (Mt), down 2.3 per cent on 2014.
Its actual share of world output, however, increased by 0.2 percentage points to 49.5 percent.
The rise of China’s steel market share comes as competitors accuse Chinese steel firms of dumping their production onto world markets at prices below cost.
Monday’s figures took up official Chinese National Bureau of Statistics data released last week which showed Chinese steel output dropping last year for the first time since 1981 in a sector buffeted by overcapacity.
“Crude steel production decreased in all regions except Oceania in 2015.” the WSA said following the first overall annual drop since 2009, when overall output stood at 1.24 billion tons.
Last October, the WSA had initially forecast a 1.7 per cent rise in world demand for 2015, followed by a 0.7 per cent rise this year.
Its next forecasts are due in April. The association estimates it represents more than 150 steel producers covering some 85 per cent of world production.
Japan, the world’s second largest producer, saw 2015 output slide five per cent to 105.2 Mt.
Indian production rose 2.3 per cent to 83.2 Mt, propelling it to number three globally with a 5.5 per cent share from 5.2 previously while South Korea fell back 2.6 per cent to 69.7 Mt to retain a constant overall share.
Asia overall saw production fall 2.3 per cent to 1.11 billion tons.
Last year saw EU states produce 166.2 Mt of crude steel, a decrease of 1.8 per cent on 2014. Germany dipped just 0.6 per cent—number five producer Russia, a non-EU member, likewise fell just 0.5 percent, to 71/1 Mt—but Italy and France slumped seven percent.
Spain, however, produced 14.9 Mt in 2015, an increase of 4.4 percent.
The overall EU share was barely changed at 10.2 per cent from 10.1 in 2014.
North American production came in 8.6 per cent lower at 110.7 Mt, with fourth largest producer the United States seeing production dropping 10.5 per cent to 78.9 Mt. That moved the US world share down to 4.9 per cent from 5.3.
Leading South American economy Brazil saw production off 1.9 per cent to 33.2 Mt.
The overall world steel cacacity utilisation ratio fell to 69.7 per cent from 73.4 in 2014.

 

World steel output drops after 5yr rise

AFP, PARIS: Reflecting a global economic slowdown, worldwide steel production dropped 2.8 per cent last year to 1.62 billion tons, just under half of the total produced by China, the World Steel Association said Monday. Global steel production slipped back after five years of constant rises, with China, easily the worlds largest consumer and producer, last year producing 803.8 million metric tons (Mt), down 2.3 per cent on 2014. Its actual share of world output, however, increased by 0.2 percentage points to 49.5 percent. The rise of Chinas steel market share comes as competitors accuse Chinese steel firms of dumping their production onto world markets at prices below cost. Mondays figures took up official Chinese National Bureau of Statistics data released last week which showed Chinese steel output dropping last year for the first time since 1981 in a sector buffeted by overcapacity. Crude steel production decreased in all regions except Oceania in 2015. the WSA said following the first overall annual drop since 2009, when overall output stood at 1.24 billion tons. Last October, the WSA had initially forecast a 1.7 per cent rise in world demand for 2015, followed by a 0.7 per cent rise this year. Its next forecasts are due in April. The association estimates it represents more than 150 steel producers covering some 85 per cent of world production. Japan, the worlds second largest producer, saw 2015 output slide five per cent to 105.2 Mt. Indian production rose 2.3 per cent to 83.2 Mt, propelling it to number three globally with a 5.5 per cent share from 5.2 previously while South Korea fell back 2.6 per cent to 69.7 Mt to retain a constant overall share. Asia overall saw production fall 2.3 per cent to 1.11 billion tons. Last year saw EU states produce 166.2 Mt of crude steel, a decrease of 1.8 per cent on 2014. Germany dipped just 0.6 per centnumber five producer Russia, a non-EU member, likewise fell just 0.5 percent, to 71/1 Mtbut Italy and France slumped seven percent. Spain, however, produced 14.9 Mt in 2015, an increase of 4.4 percent. The overall EU share was barely changed at 10.2 per cent from 10.1 in 2014. North American production came in 8.6 per cent lower at 110.7 Mt, with fourth largest producer the United States seeing production dropping 10.5 per cent to 78.9 Mt. That moved the US world share down to 4.9 per cent from 5.3. Leading South American economy Brazil saw production off 1.9 per cent to 33.2 Mt. The overall world steel cacacity utilisation ratio fell to 69.7 per cent from73.4 in 2014.