World steel output hits record in 2006

Rank 2006

Rank 2005

Country

2006

2005

% Change

1

1

China

418.80

355.80

17.70

2

2

Japan

116.20

112.50

3.30

3

3

USA

98.50

94.90

3.80

4

4

Russia

70.60

66.10

6.80

5

5

South Korea

48.40

47.80

1.30

6

6

Germany

47.20

44.50

6.10

7

7

India

44.00

40.90

7.60

8

8

Ukraine

40.80

38.60

5.70

9

10

Italy

31.60

29.40

7.50

10

9

Brazil

30.90

31.60

-2.20

Source: International Iron and Steel Institute

 TRIGGER  The steel sector took advantage of the healthy world economic growth and demand in emerging market countries, notably in Asia, where major infrastructure projects were under way.  OUTLOOK  But the trend may not last. The Organization for Economic Cooperation and Development in November said that while steel prospects for 2007 remained relatively sound, an increase in output capacity, especially in Asia, could lead to overproduction and a fall in prices.