India’s steel output in May 2008 increased by 0.3 percent to 4.329 mn metric tonnes as against 4.318 mn metric tonnes in May 2007. China’s steel output grew 10.5 percent on a YoY basis to touch 46.622 mn metric tonnes in May against 41.622 tonnes in May 2007.
The figures released by Belgium-based International Iron and Steel Institute, put the overall growth of Asian countries reporting to the institute at 8.3 percent. Among the countries included in the report are India, China, Japan, South Korea and Taiwan.
UK recorded negative growth in steel production at 1.014 mn metric tonnes in May 2008 as against 1.275 mn metric tonnes in May 2007. Belgium has recorded the highest growth of 25 percent on YoY basis at 1.050 mn metric tonnes. US Steel production was 8.56 mn metric tonnes in May as against 8.521 mn metric tonnes corresponding period last year representing a growth of 0.5 percent.
World crude steel production for the 66 countries was 119.5 million metric tons (mmt) in May. This was 5.8% higher than the same month last year. China produced 46 mmt of crude steel in May, an increase of 10.5% compared to the same month in 2007. India, Japan and Korea also showed growth.
Overall, Asia produced 67.6 mmt of crude steel in May 2008 compared to 62.4 mmt in May 2007, an 8.3% increase in crude steel production. In Europe, Germany produced 4.1 mmt of crude steel in May, an increase of 2.6% compared to May 2007. Turkish crude steel production was 2.5 mmt, a 12% increase compared to the same month last year. Over the first five months of 2008, Turkey produced 11.7 mmt of crude steel, which is 9% more than the same period in 2007.
Brazil’s crude steel production also grew in this month. In May 2008, Brazil produced 3 mmt, compared to 2.9 mmt in the same month last year, an increase of 2.8%.
Source: CommodityOnline
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