WORLD
CRUDE STEEL PRODUCTION REACHES RECORD HIGH
13 January 1998
According to the first estimates
of the United Nations Economic Commission for Europe
(UN/ECE), world crude steel production increased by 6.6 per
cent or 49.6 million tonnes (Mt) to reach a record level of
798.5 Mt in 1997 (the last peak was 784.9 Mt in 1989). This
increase is largely due to a rebound in economic growth in
the European Union and to a continuous increase in new crude
steel-making capacity in the United States of America and in
Asia. In the EU, low interest rates and falling inflation
strengthened business confidence, and the depreciation of the
European currencies against the United States dollar gave
rise to a surge in external demand. Total crude steel
production within the EU increased by 9.1 per cent to 159.9
Mt.
Production in the United States
reached its highest level since 1981, increasing from 94.7 Mt
in 1996 to 99.2 Mt in 1997, led by persistent sustained
economic development. The start-up of a few mini-mills for
flat products in 1997 also contributed to the overall
increase in crude steel production, as was the case in 1996,
with output in the electric arc furnace (EAF) sector showing
an increase, while that of the blast furnace (BF) sector
remained flat.
In central Europe as a whole,
crude steel production recovered from a decline registered in
1996, reflected by a surge in steel exports. However, in the
Russian Federation, crude steel production declined by 2.1
per cent owing to a fall in domestic steel consumption,
although an increase in steel exports made up for this
shortfall to some degree.
The Asian countries saw dynamic
growth in steel production in 1997. Although the economy
slowed down in the latter half of 1997 owing to the currency
turbulences, new capacity installations spurred output in the
Republic of Korea and Taiwan Province of China. In the
Republic of Korea, production rose by 8.4 per cent and in
Taiwan Province of China by 31.2 per cent. China showed a
steady rising trend of crude steel production despite
official prohibition of the construction of large capacity
greenfield steelworks. Production increased from 100.0 Mt in
1996 to 107.3 Mt in 1997. In Japan, output increased by 6.0
per cent and exceeded the 100 million tonne level for the
first time in two years (104.7 Mt) owing to steel exports
supported by the devaluation of the Yen.
In Latin America, crude steel
production registered an increase of 4.5 per cent as a whole,
with a 6.6 per cent increase in Mexico and 3.8 per cent in
Brazil.
The country ranking for global
crude steel production in 1997 showed that China was the
world=s largest steel producer for the second
consecutive year. It was followed by Japan, then the United
States, the Russian Federation, Germany and the Republic of
Korea.
For further information
please contact:
Mr. Akio Noguchi
Trade Division
United Nations Economic Commission for Europe (UN/ECE)
Palais des Nations, office 423
CH - 1211 Geneva 10, Switzerland
Tel: +41 22 917 21 49
Fax: +41 22 917 01 78
E-mail: [email protected]