While JADCO manufactures wear steel solutions that perform better than mild steel, we often look to crude steel production for an indication of the health of the market as a whole.
Here is a quick recap of the recent headlines and trends in the global steel market.
Although the industry is expected to see modest growth on the whole, the U.S., Geremany, and China have all seen declining totals. The U.S. specfically has seen a 4.1% drop in production when compared to last year.
Regardless, the steel market as a whole has seen a production increase of 1.6%:
Despite declining totals from China, U.S. and Germany, [Global] tonnage increases
Global raw steel production rose 1.6% from August to September, from 130.35 million metric tons to 132.5 million metric tons according to the World Steel Association. The latest month’s figures are 6.1% more than the total for September 2012, and bring the year-to-date total to 1.186 billion metric tons, 2.7% more than the January-September 2012 tonnage.
Read original: Global Steel Output Inched Up in September
Global steel production is projected to continue to increase, as predicted by the World Steel Association.
Global Steelmakers Forecast Modest Growth
Demand for steel in Brazil and India has not kept up to previous forecasts, and the steady rate of increases in the Chinese market may be slowed by that nation’s efforts to restrain new investment.
The World Steel Association issued a Short Range Outlook report for global steel consumption, meaning the remainder of 2013 and 2014, and predicted that volumes would rise 3.1% over that period. In terms of tonnage, that projection would mean 2013 global steel consumption would rise to 1.475 billion metric tons– a 2% increase over the actual figure for 2012 — and increase further to 1.523 billion metric tons in 2014. The forecast is slightly more positive for growth than the …
Read original: Global Steelmakers Forecast Modest Growth
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Posted on 10/24/2013 at 12:00:00 AM