Steel Products
World Steel Production Down in February
Written by Sandy Williams
March 21, 2013
Written by: Sandy Williams
World steel production in February dropped to 123.2 million metric tons from 129.7 million metric tons in January. China, which accounted for 46.4 percent of total world February production, was at 61.8 million metric tons, down from 63.6 million metric tons the previous month. Compared to the same month in 2012 global production was up 1.2 percent but when China is excluded, production actually fell 6.2 percent.
China production rose year-over-year by 9.8 percent while the biggest year-over-year drops were seen in Russia and the U.S., down 11.9 percent and 11.8 percent, respectively. Production in the EU dropped 5.6 percent year-over-year.
Japan production slid to 8.31 million metric tons in February from 8.86 million metric tons in January. Brazil also dropped for the month to 2.62 million metric tons from 2.82 million metric tons.
Global capacity is 1.97 billion metric tons vs. steel production of 1.23 billion metric tons in February—a capacity utilization of 62 percent. The last time supply and demand were close was in 2008 when capacity utilization was over 90 percent and production topped 1.4 billion metric tons.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.