Tags: China | Leads | June | Global | Steel | Output | New

China Leads June Global Steel Output to New Record

Wednesday, 20 Jul 2011 08:58 AM

Global steel production rose in June, led by record crude steel output in China, while U.S. steelmakers also increased output despite slow economic growth in the world's largest economy, data showed on Wednesday.

Global crude steel production rose 8 percent to 127.746 million tonnes year-on-year in June 2011, according to figures from the World Steel Association.

This represents a record daily production level of almost 4.3 million tonnes, compared with less than 4.2 million tonnes per day in May.

Crude steel output from China, the world's top producer and consumer of the metal, rose to 59.932 million tonnes in June, up 11.9 percent from the same month last year.

This was also an increase to a new record high in daily terms to slightly less than 2 million tonnes, from slightly more than 1.9 million per day in May.

"The figures are slightly above expectations," Colin Hamilton, an analyst at Macquarie said.

"This is another record high for both the Chinese as well as the global market. There are no dramatic changes, but the big surprise was North America, which has grown month-on-month, despite a degree of economic concern."

Global crude steel production in the U.S. grew to 7.213 million in June, a 1.7 percent increase from June last year.

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Global steel production rose in June, led by record crude steel output in China, while U.S. steelmakers also increased output despite slow economic growth in the world's largest economy, data showed on Wednesday. Global crude steel production rose 8 percent to 127.746...
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Wednesday, 20 Jul 2011 08:58 AM
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