World steel output up 2% in Feb at 119 mn tonne

Global steel production was up 1.9% in February at 119 million tonne, with India's contribution at 5.7 million tonne, the World Steel Association (WSA) said today.

"World crude steel production was 119 million tonne in February, 2012. This is 1.9% higher than February 2011," said WSA, one of the world's largest industry associations.

WSA has 170 producers, including 17 of the world's top 20, as its members and cumulatively they produce 85% of world steel.

China remained the highest contributer to the production basket, with an output of 55.9 million tonne steel in February, up by 3.3% over a year ago.

India's production, however, came down a little to 5.7 million tonne compared to 5.734 million tonne a year ago.

Japan produced 8.6 million tonne steel during the month, down 3.7% compared in February, 2011. South Korea produced 5.4 million tonne, a 7.6% rise over the same month last year.

Among the European Union members, Germany produced 3.6 million tonne, France 1.3 million tonne and Spain produced 1.2 million tonne, respectively.

Steel production in the US was at 7.3 million tonne, up by 8.5% over February, 2011. Brazil's production for February, 2012 was 2.8 million tonne, 3.4% higher than February, 2011.

Meanwhile, the association said the capacity utilisation ratio of the steel makers decreased by 2.8 percentage points in in February, 2012 over the same month a year ago.