Global crude steel production hits a new record in 2011 but
growth was sharply down from the previous year as a deepening sovereign debt
crisis in the EU and slowing economic growth in top consumer China dented
demand for the commodity.
Global steel production was at 1.527 billion tonnes in 2011, 6.8 per cent up
from 2010, according to data released by the World Steel Association (World
steel) on Monday.
This compared with a 15 per cent increase in 2010. In 2011, China, the top consumer
and producer of the commodity, produced 695.5 million tonnes of crude steel, up
8.9 per cent from 2010.
China's steel production expanded by 9.3 per cent in 2010.
Source: The Economic Times
Leave a Reply