Product category:
Engineering Industry Reports and Surveys
News Release from: MEPS (International)
Edited by the Engineeringtalk Editorial
Team on 21 September 2004
Crude steel production to top 1.1Gt in
2008
A new report titled "Global iron and steel production to 2008" predicts that global crude steel production will top 1.1 billion tonnes in 2008.
A new report titled "Global iron and steel production to 2008" predicts that global crude steel production will top 1.1 billion tonnes in 2008 MEPS (International) expects crude steel production to expand steadily over the next five years to reach just above 1.1 billion tonnes by 2008
This article was originally published on Engineeringtalk on 4 Nov 2005 at 8.00am (UK)
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This represents an increase of 14.6% over the five years from 2003 or an annual growth rate of 2.8%.
Pig iron making will also increase significantly over the forecast period.
The new report estimates growth of 2.7% per annum to reach 750 million tonnes in 2008.
Many of the countries with substantial rises in output have blast furnace/oxygen steelmaking as the favoured process.
Direct reduced iron will take a greater share of the ferrous inputs for steel manufacturing in the future.
Countries in the Middle East, Africa, Asia and South America, particularly those with a plentiful supply of energy, will be consistently reporting higher production figures in the future.
The report forecasts total DRI output in the world in 2008 at just above 56 million tonnes.
- up by 8.3 million tonnes (17.1%) on the outturn in 2003.
The most significant change in the distribution of global iron and steel output will take place in China.
Its share will expand substantially over the next five years.
The main losers in percentage terms, will be the large industrialised areas, including the EU, NAFTA and Japan.
However, it should be noted that MEPS forecasts crude steel production expanding in all regions of the world in the period to 2008.
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