Global Steel Production Jumps for May

According to the most recent figures from the World Steel Association (Worldsteel),May global crude steel production reached 124 million metric tons, a 29.1 percent increase from the same time last year. Figures are from the 66 countries tracked by Worldsteel.

For the month, China’s crude steel production reached 56.1 million metric tons, an increase of 20.7 percent, compared to May 2009.

For other Asian countries, Japan produced 9.7 millions of metric tons of crude steel in May 2010, up 50.2 percent compared to the same month last year. South Korea’s crude steel production for May 2010 was 5.2 millions of metric tons, 28 percent up compared to the same month last year.

In the European Union, Germany’s crude steel production for May 2010 was 4.1 millions of metric tons, an increase of 87.7 percent on May 2009. Italy produced 2.5 millions of metric tons, 42 percent higher than the same month in 2009. Spain produced 1.6 millions of metric tons of crude steel in May 2010, an increase of 24.9 percent compared to May 2009.

Turkey produced 2.5 millions of metric tons of crude steel in May 2010, an 18.8 percent increase over the same month in 2009.

In the United States, steel production reached 7.2 million metric tons in May 2010, an increase of 73.8 percent compared to May 2009.

Brazilian crude steel production was 2.9 millions of metric tons, 50.8 percent higher than May 2009.

Going further, crude steel production for the month was 9.9 percent greater than May 2007, before the impact of the global economic crisis was felt. However, while China, South Korea and Turkey showed increased crude steel production in May 2010 compared to the same month 2007, the United States, Italy, Spain and Japan have yet to reach pre-crisis production levels. Steel production in the European Union is down 18 percent; North America steel production dropped by 14.8 percent; and Latin America dropped by.8 percent down.

Despite a production increase for May, the capacity usage rate for the countries in the survey declined slightly to 82 percent from 83.4 percent the previous month, although usage rate was us by 15 perrcent from the same time last year.