World metallurgy exceeded pre -crisis production volumes by 7%

The World Association became WorldSteel published the results of the industry for the first half of 2010. The total production of steel products amounted to 705.8 million tons, which is 27.9%higher than the results of 2009. Growth showed all regions. Moreover, to the level of the similar period of the 2007 pre -crisis, world production increased by 7.2%. However, the improvement was shown only by the countries of Asia and the Middle East. According to WorldSteel, the volumes of smelting steel in the European Union, the CIS, the USA and Canada are still lower than the pre-crisis level by 15%.

The first ten manufacturing countries in June included China (53.766 million tons, 9%growth), Japan (9.352 million tons, an increase of 35.9%), the USA (7.199 million tons, an increase of 65%), Russia (5.430 million tons, an increase of 6%), India (5.350 million tons, an increase of 1.9%), South Korea (4.801 million tons, an increase of 21.9%), Germany (3.856 million tons, an increase of 53.4%), Brazil (2.850 million tons, an increase of 46.8%), Turkey (2.495 million tons, an increase of 13.8%) and Ukraine (2.470 million tons, an increase of 7.2%).

At the same time, in the third quarter, analysts expect a fall from metallurgists, which began in June - 4.4% compared to Mai (2.6% of April). The fault of this was a drop in steel prices by 15-20%, says olga Mitrofanova from IFD "Capital ". Due to the fears of reducing consumption of steel in Europe and the slowdown in the economy in China, the analyst explains, demand in the world market in June fell by 10-15%. According to WorldSteel, now demand is approximately 70% of the pre -crisis when loading capacities by 80.6%. The first to react to the correction was China, reducing the smelting of steel in a monthly calculus by 4%, and all other manufacturers followed.

A return to the growth of world production began to occur in the fourth quarter, when traders begin to replenish the warehouses exhausted over the summer, Dmitry Smolin believes. But everything will depend on real market demand, which, in turn, will depend on the pace of restoration of the economy of Europe, China and the USA, olga Mitrofanova adds. According to its forecasts, due to the summer drop in production, according to the results of the year, the total production volume may remain at the level of 2009 and amount to 1.2 billion tons, although at the beginning of the year experts expected 1.5 billion tons of steel.

Source: rusmet.ru







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