Raw steel production totaled 124.99 million metric tons worldwide during February, a decline of 8.6% from the revised January total, 136.7 million metric tons – but just 0.6% more than the total for February 2013. The new result brings the total volume for 2014 to 261,686 million metric tons, 1.6% more than the two-month total for 2013.
Production and capacity utilization data for 65 countries is reported by Brussels-based World Steel Assn., which reports the results monthly basis. The report covers raw (or “crude”) steel, the primary output of electric arc furnaces and basic oxygen furnaces, prior to metallurgical refining and casting into semi-finished products, such as slabs, blooms, or billets. It combines results for carbon and carbon alloy steel output; stainless steels and other specialty alloy steels are not included.
In addition to the production data, World Steel reported that raw steel capacity utilization rose slightly worldwide during February, to 77.6%, which is 0.7% more than during January. The current rate is 2.0% lower than the rate for February 2013, however.
The Association estimated Chinese steel output at 62.1 million metric tons for the month, …
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