Crude steel expansion to slow in 2005
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Apr 29, 2005
Last year world crude steel output expanded by almost 9%, according to the latest MEPS World Steel Outlook.
Last year world crude steel output expanded by almost 9%, according to the latest MEPS World Steel Outlook.
In 2005 the increase is likely to be around half that amount at 1100 million tonnes.
Blast-furnace ironmaking is expected to reach 757 million tonnes in 2005 - up by 40 million tonnes on the year earlier figure.
MEPS predicts DRI output rising to 55.3 million tonnes - 2% above 2004.
Asian steel manufacturers will be responsible for most of the improvement in steel making this year.
In fact, MEPS expects 90% of the increase to come from Chinese producers as recently installed equipment is brought up to full capacity.
High inventories at the consumers and stockholders in the EU have prompted the mills to cut back on output by bringing forward plant refurbishments in the second and third quarters.
A reduction of supply of 1.5 million tonnes in expected in 2005, year on year, as a result.
A decline is also likely this year in the countries making up the former USSR.
This will be brought about by a reduction in export sales.
Further expansion in steel production is anticipated in all the remaining regions of the world.
However, the growth rate is likely to be small in percentage terms in other Europe, NAFTA, South America, Africa and Japan.
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