Steel output falls in Czech Republic

Steel output falls in Czech Republic

Steel production in the Czech Republic fell 10 percent year on year in 2005 to 6.2 million metric tons, according to data released by Czech Republic's steel association Hutnictvi Zeleza. In addition, steel sales fell 5 percent year on year to CZK 120 billion ($5.1 billion) in 2005. The decline in production and sales is attributed to the higher than usual inventories held by customers. Overall steel consumption in the Czech Republic amounted to 5.2 million metric tons in 2005, up 0.4 percent from a year earlier. The country's per capita consumption reached 500 kg last year, compared to 221-284 kg in neighboring Hungary and Poland.