Year 2013 experienced a modest expansion in the steel production of only 2.4% to 1.582 million tonnes. With this figure we have to realize that it covers also a range of national and regional variations. On the other side, these variations are milder than it was in 2008 when the financial crises fully hit in many countries and weakened the markets for years. We can call this is a good sign of stability and recovery, but nothing else.
Economies in Europe and the Japan economy have been slowly improving, while the steel production in China, the world leader in this industry, is slowing down.
Focus on China
Still, China remains the worlds number one producer of steel. China is producing 49% of world’s total steel and in 2013 China’s production increased by 8.7% to 779 million tonnes.
Given the past growth of the Chinese steel production, it is expected to hit…
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