Global Steel Output in February
At 150.2 Mt, global crude steel production climbed by 4.1% year-on-year in February, data from the World Steel Association reveal. Annual growth was driven by China, where output expanded by 10.9% annually to 83.0 Mt. Meanwhile, following three consecutive months of expansion, production in the rest of the world declined by -3.2% to 67.1 Mt.
Declines in the rest of the world were led by steep falls in output in the US (-10.9% to 6.3 Mt) and the EU (-7.1% to 11.9 Mt). Meanwhile, steel production in both India and Japan also fell, down -3.1% and -5.6% to 9.1 Mt and 7.5 Mt, respectively.