Global steel production keeps ramping up

Image source: tatasteeleurope.com

Tire recycling companies partly rely on scrap steel sales. In turn, market prices for steel scrap largely depend on crude steel production: demand and supply are the usual factors affecting the price. Below, we describe the current situation with regard to the global crude steel production.

Global crude steel production in 67 countries which report to the World Steel Association (WorldSteel), Belgium, exceeded 140 million tons in March, which is 4.6% higher compared to last year’s volume. The crude steel capacity utilization index in these countries rose by 2.2% in comparison to the last year’s volume and reached 72.7% in March. Also, the volume turned out to be 2% higher than earlier this February.

Global manufacturing of crude steel over the period from January to March 2017 reached more than 410 million tons and appeared 5.7% higher compared to the same period of 2016. European Union manufactured over 42 million tons of crude steel which is 3.8% higher compared to the first quarter of 2016. Commonwealth of Independent States (CIS) produced more than 25 million tons of crude steel – 4% increase against the same quarter of the last year. China manufactured 1.8% more crude steel this March compared to 2016 – 72 million tons. Japan increased its production volume by the same share, which means 8.9 million tons increase in real numbers.

Among countries of the European Union the following volumes were reached:

  • Germany’s crude steel productions increased by 1.9% and reached 3.9 million tons;
  • Italy manufactured 9.5% more crude steel – 2.2 million tons;
  • Spain increased production by 15.7% more and reached 1.3 million tons;
  • France built up production capacities by 18.1% and reached 1.3 million tons in crude steel production.

More than 280 million tons of steel were manufactured in the first quarter of 2017 in Asia (5.4% increase compared to the last year). North America manufactured 29.3 million tons of crude steel – 7.1% increase compared to the same period last year.

In Brazil crude steel production increased by some 14% and reached approximately 3 million tons. Turkey increased crude steel production up to 3.1 million tons, i.e. by 14% compared to the last year. Crude steel production in United States reached some 7 million tons during this period which is more than 3% higher in comparison with the volume last year.

Compared to production volumes in 2016, the first quarter of the current year demonstrates higher values. In turn, 2016 appeared to be more successful for steel producers than 2015 – at the time, global crude steel production rose by 1 percent.

Article source: Recycling Today

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