World Steel zero growth again

Advertisement

From the World Steel Association:

World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 137 million tonnes (Mt) in October 2014, the same compared to October 2013.

China’s crude steel production for October 2014 was 67.5 Mt, a slight decrease of -0.3% compared to October 2013. Elsewhere in Asia, Japan produced 9.4 Mt of crude steel in October 2014, a decrease of -0.5% compared to October 2013. South Korea produced 6.2 Mt of crude steel in October 2014, up by 4.5% on October 2013.

October 2014

In the EU, Germany produced 3.5 Mt of crude steel in October 2014, a decrease of -5.9% compared to October 2013. Italy produced 2.1 Mt of crude steel, down by -5.4% on October 2013. France’s crude steel production was 1.5 Mt, an increase of 15.0% compared to October 2013. Spain produced 1.3 Mt of crude steel, down by -0.4% compared to October 2013.

Turkey’s crude steel production for October 2014 was 2.7 Mt, down by -11.0% on October 2013.

The US produced 7.3 Mt of crude steel in October 2014, a decrease of -0.7% compared to October 2013.

Brazil’s crude steel production for October 2014 was 3.1 Mt, up by 2.7% on October 2013.

The crude steel capacity utilisation ratio for the 65 countries in October 2014 was 74.7%. It is -2.6 percentage points lower than October 2013. Compared to September 2014, it is -1.4 percentage points lower.

October 2014_capacity

That’s the second month in a row with no growth. The year on year figure is still at 2%.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.