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World Steel production to reach a new record of 1,500 million tons in 2012 (US)

27-04-2011

Category : Market

(Credit Photo @ Le blog des énergies renouvelables)

Apr 24, 2011 – Sahit Muja: Steel production to reach a new record of 1,500 million tons in 2012
U.S.  has a  higher steel  prices. Demand for steel is up from automakers and industrial equipment and construction companies.

  • The U.S business conditions have improved this  year as sales of steel has picked up with the recovering economy.
  • U.S. factories have increased production for nine months in a row. Automobile sales rose about 20 percent in the first quarter compared with a year ago.
  • U.S. Steel also has benefited from selling steel pipes to energy companies for oil and gas drilling. Exploration and production in that sector has picked up with rising oil prices.
  • U.S steel prices are higher than a year ago. Steel manufacturers in U.S recorded about a 20 percent increase in first-quarter average steel prices.
  • Rising demand in consumer and industrial sectors points to a stronger  U.S economy.
  • Steel demand in Europe, China, India, Russia, Brazil and Turkey is picking up.
  • Germany’s crude steel production totaled 11.39 million tonne s in the Q1 2011, soared by 4.2%
  • Italy’s steel output in Q1 2011  rose 8% YoY to 7 million tonnes in the first three months of 2011.
  • China, which last year had a share of 46.7 per cent of global steel production of 1.41 billion
  • Steel demand in China, the world’s top producer of steel,will grow at a 6 percent pace in the next two years to 605 million tonnes in 2011 and 635 million tonnes in 2012, according to the steelmakers association.
  • India is expected to grow  steel consumption by 14%  in 2011 and then 15% growth in 2012.
  • Russia’s crude steel production in the Q1 of this year reached 17.3 million mt, up 9.2 percent on the corresponding period of last year .In the January-March 2011 Russia saw a 21.2 percent increase in its steel tube production to 2.6 million mt .
  • South Korea produced 5.0Mt of crude steel in February 2011, 25.7% more than February 2010.
  • Spain produced 1.4Mt of crude steel in February 2011, an increase of 6.4% on February 2010.
  • Turkey’s crude steel production for February 2011 was 2.5Mt, an increase of 35.5% compared to February 2010.
  • The US produced 6.6Mt of crude steel in February 2011, 5.6% higher than February 2010.
  • Brazilian crude steel production in February 2011 was 2.7Mt, an increase of 11.4% on February 2010

With the growth in the global economy  the steel industry should continue on its recent improvement trend.  Albanian Minerals  expect global steel demand to increase of 7 – 10%  this year. The steel industry worldwide has recorded high growth rates in both production and consumption over 2010 – 2011 benefiting from soaring steel demand in the automobile and construction sectors.  Price of steel is expected to increase . Prices of  main ingredients of steel  Iron ore, chrome ore will continue to increase.  Surging raw materials prices, and rising global commodities prices and inflation will also  support steel prices  world steel production will reach a new record of 1,500 million tons in 2012.

Source : Sahit Muja -President & CEO -Albanian Mineral

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