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IISI Reports World Steel Production for March 2008

04/24/2008 - World crude steel production for the 67 countries reporting to IISI stood at an estimated 119.5 million tonnes in March 2008 — 5.8% higher than for the same month of 2007, and 11.0% higher than the previous month, February 2008.

Figures released by the International Iron and Steel Institute show that world crude steel production for the 67 countries reporting stood at an estimated 119.5 million tonnes in March 2008 — 5.8% higher than for the same month of 2007, and 11.0% higher than the previous month (February 2008).
  
World Steel Production, March '08
Region
% of March '08 Total
Change vs. March '07
EU (27)
15.6%
-2.3%
Other EU
2.4%
+7.4%
CIS
9.4%
+5.4%
N. America
9.7%
+2.3%
S. America
3.6%
+4.9%
Africa
1.4%
+7.5%
Middle East
1.2%
+13.3%
Asia
56.0%
+8.8%
Oceania
0.7%
+5.9%
World
--
+5.8%
 
Excluding China, world production grew by just 2.6% in March compared to March 2007, but grew by 8.5% compared to the previous month (February 2008).
 
For the first three months of 2008, total world crude steel production reached 340.7 million tonnes, a 5.6% increase over the first quarter of 2007. Of that 340.7-million-tonne first quarter total, China produced 124.9 million tonnes of crude steel (36.6% of the first-quarter total), an increase of 8.6% compared to the same period in 2007.
 
Weighing in at 56.0% of total world production for March 2008, production in Asia stood at 66.9 million tonnes in March, 8.8% higher than in March 2007. Representing 37.5% of world production for March, Chinese production was reported at 44.9 million tonnes in March, an 11.5% increase compared to March 2007, and a 15.4% increase compared to the previous month (February 2008). However, China’s moving annual total (MAT) growth rate slowed further in March 2008, to 11.5%, compared to its MAT growth rate of 21% in March 2007.
 
The twenty-seven countries of the European Union (EU(27)) produced 18.6 million tonnes of crude steel in March, 2.3% less than in March 2007. Comparing March 2008 to March 2007, crude steel production increased by 10.8% in Slovenia (nearly half of this country’s 20.4% rate of increase for the previous month), but fell by 17.0% in Bulgaria, by 11.4% in France, and by 10.1% in Hungary. Altogether, the countries in the EU27 contributed 15.6% of the total reported world production in March 2008.
 
Production in Other Europe totaled 2.9 million tonnes in March, an increase of 7.4% compared to March 2007. Macedoniashowed the largest increase (+18.2%), followed by Switzerland (+14.9%), while production fell by 23.1% in Norway. Altogether, these countries contributed 2.4% of the total reported world production in March 2008.
 
Production in the countries of the CIS totaled 11.3 million tonnes in March, reflecting a 5.4% increase compared to March 2007. Moldova reported the largest increase (+10.5%) and Kazakhstan reported the largest decrease (–10.2%) over the period. Altogether, these countries contributed 9.4% of the total reported world production in March 2008.
 
North American production totaled 11.6 million tonnes in March, a 7.2% increase compared to March 2007. Comparing March 2008 to March 2007, the largest percentage increases were recorded in Mexico (+5.0%) and Canada (+4.8%), while production grew by 2.1% in the U.S. over the same period. Altogether, the North American countries contributed 9.7% of the total reported world production in March 2008.
 
South American production for March 2008 totaled 4.3 million tonnes, a 4.9% increase compared to March 2007. The largest percentage increases took effect in Peru (+21.6%), while Paraguay (–18.6%) logged the greatest percentage decrease. Altogether, the South American countries contributed 3.6% of the total reported world production in March 2008.
 
Production in Africa totaled 1.7 million tonnes in March 2008, a 7.5% increase compared to March 2007. Comparing March 2008 to March 2007, the most significant percentage increase took effect in Egypt (+35.9%, which follows a 34.4% increase the previous month), while production fell most significantly in Algeria (–47.6%) over the same period. The African countries contributed 1.4% of the total reported world production in March 2008.
 
Production in the Middle East totaled 1.5 million tonnes in March 2008, a 13.3% increase compared to March 2007. Altogether, the countries of the Middle East contributed 1.2% of the total reported world production in March 2008.
 
Production in Oceania totaled 0.79 million tonnes in March, a 5.9% increase compared to March 2007. Altogether, the countries of Oceania contributed nearly 0.7% of the total reported world production in March 2008.
 
Total world production for March increased 11.0% compared to the previous month, February 2008.