Steel Output Growth Continues in February
Global crude steel production rose by 4.1% year-on-year in February to 126.6 Mt, although down from expansion of 7.5% in January, it represented the tenth consecutive month output has increased on an annual basis, according to the World Steel Association. World steel production has now seen growth of 5.8% year-on-year, to 264.4 Mt, in the first two months of the year.
Production increases in February were primarily driven by strong growth in major Asian producers China (+4.6% to 61.2 Mt), India (+8.9% to 8.1 Mt) and South Korea (+8.3% to 5.5 Mt). By contrast, production fell in the EU-28 (-0.6% to 13.3 Mt), Russia (-0.3% to 5.6 Mt) and the US (-1.0% to 6.4 Mt). Japanese steel output was stable in February at 8.3 Mt.