World Steel Output Falls
Crude steel production for the 65 countries reporting to the World Steel Association fell 2.1% year-on-year to 139.3 Mt in May as most major steel producing countries saw output fall, while production in the first five months of 2015 was down 1.9% at 675.6 Mt. Both the US (-8.5% to 6.8 Mt) and Russia (-1.9% to 6.1 Mt) saw steel output fall year-on-year in May and, as previously reported, production was also down in Japan (-7.0% to 8.9 Mt) and China (-1.7% to 70.0 Mt). Although EU steel production rose 0.7% in May to 15.1 Mt, output in Germany, the blocs largest producer, fell 5.4% to 3.7 Mt. However, Indian steel output continued to reverse the overall trend in May, increasing by 4.0% to 7.7 Mt.