Global Steel Production fell 7.1 Percent in January

26 February 2016

Steel output around the globe fell by 7.1 percent to 128 million tons in January, according to the World Steel Association.

The 66 countries that report to the World Steel Association had a steel capacity utilization of 66 percent in January, a 5.8 percent decline compared to January 2015. It was however a 0.8 percent increase over December.

Steel capacity utilization had dropped below 70 percent in the United States for much of the fourth quarter of last year, but it has been rising since as tariffs have softened the global import crisis.

America produced 6.6 million tons of steel in January, an 8.8 percent year-over-year decline, the World Steel Association found. Steelmakers that report to the more narrowly focused American Iron and Steel Institute have reported increases in output for six out of the eight weeks that ended this year, as well as an improving capacity utilization rate.

According to the World Steel Association, China's crude steel production was 63.2 percent million tons in January, a 7.8 percent decline compared to 2015. Japan made 8.8 million tons of steel last month, a 2.8 percent decline.

In January, India made 7.4 million tons of steel, South Korea produced 5.7 million tons, and Germany cranked out 3.6 million tons. Steel output fell by 5.3 percent in Italy and 9.5 percent in Spain.

Russia saw a 10.6 percent year-over-year decline in steel output in January, and Brazil a 17.9 percent drop.


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