MARKETPLACE

February 2008 Crude Steel Production
Brussels – World crude steel production for the 66 countries reporting to the International Iron and Steel Institute (IISI) was 107 million metric tons (mmt) in February. This is a 5.3% increase on February 2007. However, the moving annual total (MAT) growth rate in February 2008 slowed from a peak in March 2007 of 10.8%, to 6.2%. World MAT growth rate excluding China slowed from a peak of 6.1% in April 2007 to 2.9% in February 2008, down from 3.0% last month.

China was 38.9 mmt for the month, an increase of 7.0% on February 2007. China’s MAT growth rate has slowed from 21.0% in February 2007 to 12.1% in February 2008. This is also some way down from the China MAT growth peak in January 2006 of 26.3%. Japanese production was 9.8 mmt, an increase of 6.5% and India produced 4.6 mmt, an increase of 7.6% compared to February 2007.

Total crude steel production in the 27 EU countries was 16.6 mmt, 2.0% lower than for February 2007. The EU MAT growth rate has slowed from a peak of 7.5% in February 2007 to -0.1% in February 2008, down from 0.5% last month. The largest producer in EU is Germany with 3.8 mmt of crude steel, a reduction of 1.3% compared to the same month last year.
Production in Turkey was 2.2 mmt, an increase of 14.7% compared to February 2007. Russia produced 6.0 mmt, an increase of 5.3% compared to the same month in 2007. Production in the Ukraine was 3.5 mmt, an increase of 5.3%.

North America increased production to 10.9 mmt up 5.2% on February 2007. North America MAT growth rate continues to show signs of improvement with five consecutive months of growth, up 2.6% in February 2008. The US produced 8.0 mmt in February 2008 an increase of 5.5% compared to February 2007.

Brazil produced 2.7 mmt of crude steel, an increase of 8.1% on February 2007.

Source: International Iron and Steel Institute, March 20, 2008