Steel output in China hit a record, production up 400% in 10 years

 Sahit Muja

Sahit Muja: Steel output in China hit a record, production  up 400% in 10 years.
Over the past 10 years, China's steel production has increased at a rapid pace as the economy has industrialized and urbanized.

The  400% expansion of steel production over the past 10 years has been a significant driver of China’s demand for raw materials, especially iron ore, coking coal, nickel, ferrochrome, chrome ore and other minerals. China's  crude steel production was 182 million tons in 2002 and is expected 715 million tons in 2012.

China has become a powerhouse in the global crude steel production and stainless steel industry.  .
World crude steel production reached 1,527 million tons in 2011. China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes in 2011
Global steel prices and demands are weakening, but Chinese steel mills are increasing production, adding huge concerns from steel mills in EU, US and India.

Albanian Minerals  is expecting that China will produce near 50 percent of world's crude steel in 2012. Now China is totally dominating the global steel market.
The latest industry data tracking  steel output over a 20-day period showed Chinese steel production increased 2% in August.

World's crude steel production in the first six months of 2012 was 766.9 Mt, up 0.9% compared to the same period of 2011.
North America and Asia showed an increase of 7.2% and 1.6% respectively USA 8.4% and China 1.8% while the EU (27) and South America recorded negative growth of -4.6% and -3.5% each.

China’s crude steel production for June 2012 was 60.2 Mt, for July 2012 was 61.7 Mt.Japan produced 9.2 Mt of crude steel in June 2012, up by 3.5% compared to the same month last year. South Korea’s crude steel production for June 2012 was 5.9 Mt, an increase of 4.3% compared to June 2011.

In the EU, Germany produced 3.7 Mt of crude steel in June 2012, a decrease of -4.0% on June 2011. Italy’s crude steel production for June 2012 was 2.4 Mt, down by -7.9% on June 2011. In June 2012, France produced 1.3 Mt of crude steel, down by -2.1% compared to June 2011. Spain’s crude steel production for June 2012 was 1.3 Mt, -8.8% lower than June 2011.

Turkey’s crude steel production for June 2012 was 2.9 Mt, an increase of 4.0% compared to June 2011.The US produced 7.3 Mt of crude steel in June 2012, up by 0.8% on June 2011.
Brazil’s crude steel production for June 2012 was 2.7 Mt, -8.5% lower than June 2011.

In today’s market, steel manufacturers are constantly pressed to remain competitive. Look around your home and you’ll see the many trusted brand name appliances and electronics bearing the “Made in China” label. China is absolutely leading the world in steel production and on the global economic stage.

Sahit Muja
President and CEO
Albanian Minerals
New York