World steel production is growing

In February, the world produced 131.8 million tons of steel, which means an increase of 3.5% in comparison with the previous year. China produced 64.9 million tonnes of steel, up 5.9 percent from a year ago, despite shutting down substantial production capacity. Among the most important steel producers, this is, in fact, the most significant dynamic.

Production in Ukraine increased by more than 11 percent to 1.9 million tons, but the situation is rather unstable and such leaps are possible, both in the direction of growth and in the opposite direction.
The rise is also taking place in Asia, where 90.475 million tons were produced, an increase of four percent. Among producers, growth was recorded by India to 8.434 million tons of steel, up 3.4 percent over a year ago. In Japan and South Korea, a decrease of 0.5 and 2.1 percent was recorded, respectively (smelting amounted to 8.296 million tons and 5.415 million tons).

Iran, which wants to disperse its steel industry, has traditionally seen significant growth. Production reached 2.12 million tons and increased by 48.6 percent. And the entire Middle East recorded an increase of five percent.

Turkey increased production to 2.998 million tons, up 8.7%. Russia from 5.15 million tons decreased by 5.7 percent over the year. In the European Union, there is a slight decrease, reaching 0.8 percent, where 13, 354 million tons were produced. The largest EU producer, Germany, smelted 3.34 million tons after a three percent decline. Italy increased production by 4.5 percent to 2.093 million tonnes. France produced 1.251 million tonnes, a 1 percent increase. Spain, with a production volume of 1.118 million tons, increased by 0.4 percent. Poland produced 815,000 tons, an increase of 2.4 percent.

North America with more than decimal places. Canada and Mexico cut steel output by 10.4 percent and 7.1 percent to 1.03 million tons and 1.535 million tons. The United States, with a production of 6.446 million tons, achieved an increase of 0.4 percent.

Capacity utilization was 73.3%. This is the highest level since September last year.

In February last year, global steel production stood at 126.6 million tonnes, up 4.1 percent over last year.