By Kitco News www.kitco.com

London –(Kitco News) --Global iron and steel production will reach all-time high tonnages in 2010 despite difficulties from the 2008 economic crisis said MEPS, the UK-based steel consultancy in a report on Monday.

According to MEPS, the global output of raw steel is expected to reach1395 million tonnes, a 14 percent increase from initial forecasts. Raw steel is projected to rise to a total global output of 1625 million tonnes by 2014.

Chinese steel production was unaffected by the economic crisis as positive production continued over the last few years and is expected to continue its positive trend, MEPS said.

“MEPS is predicting an increase in steel manufacturing of more than 30 percent over the five years from 2009,” stated the report. “A large proportion of this is expected to occur in 2010, with raw steel production rising by almost 60 million tonnes to an estimated 627 million tonnes.”

The rest of Asia, excluding Japan, were forced to cut supply in 2009 due to the economic crisis however, rising market demand and strong production in steelmaking has allowed a positive rebound in 2010. Steelmaking is expected to climb up to 160 million tonnes by the end of 2010, MEPS said.

Japan suffered a loss in crude steel output after the economic crash as production declined by more than 30 million tonnes. MEPS forecasts a slow recovery over the next four years.

“Steel output in the CIS reached a peak tonnage in 2007, for the period post break-up of the Soviet Union,” MEPS said. “The global economic crisis led to production decreases in 2008/2009 but they were less than those recorded in Western Europe. However, a recovery is forecasted in 2010 and should extend into 2014.”

The NAFTA region experienced a severe drop as steel production fell by 50 million tonnes following the economic disaster. Due to weak economic indicators for housing starts and infrastructure projects, only half of the reduction suffered will be recovered in 2010 MEPS said.
“Steel output in South America declined in 2009, as a result of the global economic crisis, by 10 million tonnes from its high point in 2007,” reported MEPS. “Domestic demand improved in 2010 in a number of countries in the region but in others consumption reduced due to an energy crisis but the market should improve steadily over the next few years.”

African supply and demand suffered in the years following the economic disaster and production is not expected to rise significantly by the end of 2010 due to slowly improving market conditions said MEPS. In 2014, MEPS is projecting record highs in steel output totaling 19 million tonnes.

By Alex Letourneau of Kitco News [email protected]

Editor’s Note: Meet the Kitco News Team at the upcoming Kitco Metals eConference September 12-13, 2010. A not-to-be missed event featuring Ron Paul, Marc Faber and other industry heavyweights. The eConference is free with Pre- Registration www.kitcoeconf.com.

*****

By Kitco News www.kitco.com

London –(Kitco News) --Global iron and steel production will reach all-time high tonnages in 2010 despite difficulties from the 2008 economic crisis said MEPS, the UK-based steel consultancy in a report on Monday.

According to MEPS, the global output of raw steel is expected to reach1395 million tonnes, a 14 percent increase from initial forecasts. Raw steel is projected to rise to a total global output of 1625 million tonnes by 2014.

Chinese steel production was unaffected by the economic crisis as positive production continued over the last few years and is expected to continue its positive trend, MEPS said.

“MEPS is predicting an increase in steel manufacturing of more than 30 percent over the five years from 2009,” stated the report. “A large proportion of this is expected to occur in 2010, with raw steel production rising by almost 60 million tonnes to an estimated 627 million tonnes.”

The rest of Asia, excluding Japan, were forced to cut supply in 2009 due to the economic crisis however, rising market demand and strong production in steelmaking has allowed a positive rebound in 2010. Steelmaking is expected to climb up to 160 million tonnes by the end of 2010, MEPS said.

Japan suffered a loss in crude steel output after the economic crash as production declined by more than 30 million tonnes. MEPS forecasts a slow recovery over the next four years.

“Steel output in the CIS reached a peak tonnage in 2007, for the period post break-up of the Soviet Union,” MEPS said. “The global economic crisis led to production decreases in 2008/2009 but they were less than those recorded in Western Europe. However, a recovery is forecasted in 2010 and should extend into 2014.”

The NAFTA region experienced a severe drop as steel production fell by 50 million tonnes following the economic disaster. Due to weak economic indicators for housing starts and infrastructure projects, only half of the reduction suffered will be recovered in 2010 MEPS said.
“Steel output in South America declined in 2009, as a result of the global economic crisis, by 10 million tonnes from its high point in 2007,” reported MEPS. “Domestic demand improved in 2010 in a number of countries in the region but in others consumption reduced due to an energy crisis but the market should improve steadily over the next few years.”

African supply and demand suffered in the years following the economic disaster and production is not expected to rise significantly by the end of 2010 due to slowly improving market conditions said MEPS. In 2014, MEPS is projecting record highs in steel output totaling 19 million tonnes.

By Alex Letourneau of Kitco News [email protected]

Editor’s Note: Meet the Kitco News Team at the upcoming Kitco Metals eConference September 12-13, 2010. A not-to-be missed event featuring Ron Paul, Marc Faber and other industry heavyweights. The eConference is free with Pre- Registration www.kitcoeconf.com.

*****

By Kitco News www.kitco.com

London –(Kitco News) --Global iron and steel production will reach all-time high tonnages in 2010 despite difficulties from the 2008 economic crisis said MEPS, the UK-based steel consultancy in a report on Monday.

According to MEPS, the global output of raw steel is expected to reach1395 million tonnes, a 14 percent increase from initial forecasts. Raw steel is projected to rise to a total global output of 1625 million tonnes by 2014.

Chinese steel production was unaffected by the economic crisis as positive production continued over the last few years and is expected to continue its positive trend, MEPS said.

“MEPS is predicting an increase in steel manufacturing of more than 30 percent over the five years from 2009,” stated the report. “A large proportion of this is expected to occur in 2010, with raw steel production rising by almost 60 million tonnes to an estimated 627 million tonnes.”

The rest of Asia, excluding Japan, were forced to cut supply in 2009 due to the economic crisis however, rising market demand and strong production in steelmaking has allowed a positive rebound in 2010. Steelmaking is expected to climb up to 160 million tonnes by the end of 2010, MEPS said.

Japan suffered a loss in crude steel output after the economic crash as production declined by more than 30 million tonnes. MEPS forecasts a slow recovery over the next four years.

“Steel output in the CIS reached a peak tonnage in 2007, for the period post break-up of the Soviet Union,” MEPS said. “The global economic crisis led to production decreases in 2008/2009 but they were less than those recorded in Western Europe. However, a recovery is forecasted in 2010 and should extend into 2014.”

The NAFTA region experienced a severe drop as steel production fell by 50 million tonnes following the economic disaster. Due to weak economic indicators for housing starts and infrastructure projects, only half of the reduction suffered will be recovered in 2010 MEPS said.
“Steel output in South America declined in 2009, as a result of the global economic crisis, by 10 million tonnes from its high point in 2007,” reported MEPS. “Domestic demand improved in 2010 in a number of countries in the region but in others consumption reduced due to an energy crisis but the market should improve steadily over the next few years.”

African supply and demand suffered in the years following the economic disaster and production is not expected to rise significantly by the end of 2010 due to slowly improving market conditions said MEPS. In 2014, MEPS is projecting record highs in steel output totaling 19 million tonnes.

By Alex Letourneau of Kitco News [email protected]

Editor’s Note: Meet the Kitco News Team at the upcoming Kitco Metals eConference September 12-13, 2010. A not-to-be missed event featuring Ron Paul, Marc Faber and other industry heavyweights. The eConference is free with Pre- Registration www.kitcoeconf.com.

*****