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Steel production increased by 2 percent globally and by 0.2 percent in the United States year-over-year in May.
The World Steel Association, which tracks 85 percent of the world's steelmaking, reported U.S. steelmakers made 7 million tons of steel in May, about 4.8 percent of the 143.3 million tons of steel produced worldwide in May.
China made more than half the world's steel in May, cranking out 72.3 million tons, a 1.8 percent year-over-year increase.
Steel production increased in May in Japan, France, Turkey and Brazil, according to the World Steel Association. Output declined that month in Germany, Italy, and Spain. Most dramatically, output rose 21.5 percent in France, and 13.2 percent in Brazil.
Internationally, the steel capacity utilization was 71.7 percent in May. That's 0.5 percent higher year-over-year and 1.8 percentage points lower as compared to April.
Source: NWI Times
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