GLOBAL
STEEL PRODUCTION TO RISE 5 PERCENT THIS YEAR
Last year, world crude steel output expanded by
almost 9 percent. In 2005 the increase is likely to be around half
that amount at 1100 million tonnes.
MEPS - Global Crude Steel Production
Estimate ('000 tonnes)
Region
2004
2005
(e)
EU
25
193480
192000
Other Europe
31714
32200
Former USSR
111745
111350
NAFTA
132821
133850
South
America
45872
46400
Africa
16647
16900
Middle East
14259
14800
China
270088
315000
Japan
112717
113000
Other Asia
112847
116200
Oceania
8284
8300
Total
1050474
1100000
Blastfurnace ironmaking is expected to reach 757 million tonnes
in 2005 - up by 40 million tonnes on the year earlier figure. We
predict DRI output rising to 55.3 million tonnes - 2 percent above
2004.
Asian steel manufacturers will be responsible for most of the
improvement in steel making this year. In fact, we expect 90 percent
of the increase to come from Chinese producers as recently installed
equipment is brought up to full capacity.
High inventories at the consumers and stockholders in the EU have
prompted the mills to cut back on output by bringing forward plant
refurbishments in the second and third quarters. A reduction of
supply of 1.5 million tonnes in anticipated in 2005, year on year,
as a result.
A decline is also likely this year in the countries making up the
former USSR. This will be brought about by a reduction in export
sales.
Further expansion in steel production is anticipated in all the
remaining regions of the world. However, the growth rate is likely
to be small in percentage terms in other Europe, NAFTA, South
America, Africa and Japan.
