Global Economic Analysis: Worldwide Crude Steel Production Up Six Percent In 2017
- The International Stainless Steel Forum reported last Thursday that global crude stainless steel production increased nearly six percent to 48.08 million tons in 2017. Output from China increased 4.74 percent to 25.77 million tons while output from Europe increased 1.33 percent to 7.28 million tons. U.S. output increased to 2.75 million tons in 2017 from 2.48 million tons in 2016.
- American Metal Market (subscription only) reported last week that Chinese crude steel output increased 4.4 percent at the end of February from earlier in the month. Chinese mills had 13.97 million tons of finished steel in their inventories on February 20, a 22.5 percent increase in inventories from earlier in the month. AMM also reported last week that China produced 136.82 million tons of crude steel over the January-February period, an increase of six percent from the same period in 2017. Finished crude steel output was up 4.6 percent.