Global crude steel output for 2005

Global crude steel output for 2005

China's 24.6 percent year on year growth in crude steel production in 2005 helped pushed worldwide growth to 5.9 percent. Data released by the International Iron and Steel Institute (IISI) show that global crude steel production amounted to 1.129 billion metric tons in 2005. China with production of 349.4 million metric tons raised its share in the world production from 26.3 percent to 30.9 percent in 2005. In Japan, weaker steel demand from the public sector was compensated by improving private sector demand. Japan's crude steel production of 112.5 million metric tons was virtually unchanged from the previous year's level. India's crude steel production rose 16.7 percent year on year to 38.1 million metric tons due to the country's strong economic growth. Asia's total output rose 14.8 percent year on year to 583.8 million tons, more than half of the world total. North American crude steel production fell 7 million metric tons or 5.3 percent year on year to 127 million metric tons in 2005. Brazil's crude steel production fell 3.9 percent year on year to 31.6 million metric tons due to the inventory liquidation. Despite growth in Argentina (4.8 percent) and Venezuela (around 8.4 percent), South America's total output fell 1.2 percent to 45.3 million metric tons. High inventories also affected the European market negatively. Cutbacks by some producers reduced output in the EU 3.6 percent to 186.5 million metric tons. In December alone, total world crude steel production rose 3.8 percent year on year to 96 million metric tons.