In 2010, worldwide crude steel output totaled 1.4 billion metric tons, a 15 percent increase over 2009 and a new record for annual global steel production, according to the World Steel Association.
In the United States, crude steel output rose to 80.6 million metric tons in 2010. This is an increase of 38.5 % over 2009. Imports of finished steel increased almost 34% to 18.9 million net tons in 2010 over CY2009. Finished steel import market share continues to maintain levels above 20 percent. (AISI)
According to WorldSteel, steel output from China, the world’s largest steel producer, reached 626.7 million metric tons in 2010. This represents a 9.3% increase over 2009. this level represents a decline of about 2.4% in China’s global production share.
We expect that steel prices will remain strong in light of the continued U.S. and global financial recovery. Most news items that could develop- such as the latest major flooding in Australia’s Coal Mining areas- will be bellwethers for higher prices.