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
US HR prices surge above offshore tags
Hot-rolled (HR) coil prices leaped in the US this week, while tags abroad saw more measured gains. The result: US hot band prices have become even more expensive than imports on a landed basis. In fact, the premium US HR prices carry over HR prices abroad now stands at a 12-month high.
US rig counts inch up again, Canadian activity slips
The latest oil and gas rig count in the US increased slightly from last week, while Canadian activity edged lower, according to Baker Hughes.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
CRU: Rising protectionism impacts global steel trade
US sheet prices surge following tariff announcement
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]