World production steel will grow in 2010 by 14%

According to the published data of MEPS International LTD (independent analytical company of ferrous metallurgy), the world production of unrefined (raw) began to grow by 14% in 2010 and reach a record value - approximately 1.4 billion tons, and its further forecast for its growth until 2014 is 1.6 billion tons.

“After the sad period for the world steel sector in 2009, the predicted recovery in 2010 can already be called guaranteed,” the Meps report said.

However, steel production in developed economies remains below the level of 2007, while its release in countries such as China continues to increase, Meps notes.

“It will take several years before the release of metal in developed countries will reach the level of 2007,” says Meps analyst Kay Ayub. - For example, the outpreption of the release of steel in 27 countries of the European Union for 2014 is 195 million tons, which is 209.7 million tons below the 2007 level. ” At the same time, this year, China, according to forecasts, will again become the largest steel manufacturer, and its production of steel products is estimated at 627 million tons. In the European Union, the issue of 170 million tons should be amounted to 170 million tons, in the countries of the North American Trade Agreement (NAFTA)-107.2 million tons, in the countries of South America-42.9 million tons, in Africa-16.1 million tons, in the Middle East-20.9 million tons, in Japan-107 million tons.

By 2014, the production forecast of steel in China MEPS is 743 million tons, in the EU-27-195 million tons, in the NAFTA countries-125 million tons, in the countries of South America-55 million tons, in the countries of Africa-19 million tons, in the Middle East-26.5 million tons and 112.5 million tons in Japan.

According to MEPS forecasts, the production of red -hot cast iron in 2010 will amount to 1.1 billion tons, and by 2014 it will grow to 1.2 billion tons. This increase should require an increase in iron ore supplies by an additional 450 million tons.