Raw steel production totaled 139.3 million metric tons worldwide during May 2015, up 3.2% from April, though 2.1% less than the May 2014 result. The latest figures represent the world’s highest monthly tonnage result to-date during 2015. The five-month total for the current year rose to 675.6 million metric tons — 1.9% less than the comparable result for January-May 2014.
Also during May, raw steel capacity utilization across 65 countries was 72.1%, down 0.4% from the April rate and down 3.4% from the May 2014 rate.
The World Steel Association, a trade association that includes steelmakers from 65 nations, reports data for raw steel production and capacity utilization on a monthly basis.
Chinese steel production continues to represent roughly half of all global steel output, and that nation’s 70.0 million metric tons of raw steel produced during May signaled a 1.5% increase from the April result, but -1.7% decrease compared to May 2014. With 340.2 million metric tons of output during the first five months of this year, China’s steelmakers are 1.6% behind the January-May total for 2014.
For more on this story, read American Machinist, a companion publication of IndustryWeek in the Penton Manufacturing and Supply Chain Group.