Global steel output slowed in February

Global raw steel production declined 3.7% from January to an estimated 141.8 million metric tons (mt) in February, according to World Steel Association (worldsteel) data. Output was one of the lowest totals over the past three years.

On a 12-month moving average (12MMA) basis through February, annual production has averaged 148.6 million mt per month over the last year, down 2.6% from the same period one year prior (see Figure 1). Until September, annual output had hovered between 152 million and 154 million mt for nearly three years, comparable to pre-pandemic levels. That trend has deviated steadily since, declining over the past five months.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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