Global crude steel production up 7% at 136.5 MT in January

Global crude steel production was 136.5 million tonnes (MT) last month, up 7 per cent over the year-ago period.
It had stood at 127.6 MT in January 2016.
"World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 136.5 MT in January 2017, a 7 per cent increase compared to January 2016," World Steel Association has said in its latest report.
China, world's largest steel producer, recorded an output of 67.2 MT crude steel last month, an increase of 7.4 per cent as compared to 62.6 MT a year ago, perhaps on a low figure last year. In January 2016 Chinese steel production had seen a sharp dip.

Japan produced 9 MT of crude steel in January 2017, an increase of 2.7 per cent compared to January 2016.
India recorded 12 per cent increase in its crude metal output at 8.4 MT last month as against 7.5 MT in January 2016. The world's third largest steel producer had recorded output of 95.6 MT crude steel in 2016.

The US saw 6.9 MT output in January an increase of 6.5 per cent as compared to year-ago period.
In the EU, Germany produced 3.6 MT crude steel in January, up 1.2 per cent over the same month last year. Italy produced 1.8 MT while production in Spain stood at 1.2 MT.

Besides, Turkey produced 2.9 MT of crude steel, Russia produced 6.2 MT, Ukraine 2.1 MT and Brazil 2.9 MT.
"The crude steel capacity utilisation ratio of the 67 countries in January 2017 was 68.5 per cent. This is 3.4 percentage points higher than in January 2016. Compared to December 2016, it is 0.9 percentage point higher," as per the statement.
The World Steel Association is one of the largest industry associations in the world. Its members represent about 85 per cent of the world's steel production.
They include over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.