World Economy

Steel Output Slowing Worldwide

Steel Output Slowing WorldwideSteel Output Slowing Worldwide

Global raw steel production for the 65 countries reporting to the World Steel Association was 138m metric tons in March 2015, a 2.7% drop compared to March 2014. With a bit more than 400m metric tons of steel produced worldwide during the first three months of this year, the year-to-date total of raw steel production is down 1.8% versus the first-quarter total for 2014, Industry Week reported. The slowing production rate matches the conclusions of the WSA’s recent short-range outlook for steel consumption, which forecasts an increase of just 0.5% this year over 2014. March 2015 raw steel capacity utilization slipped to 71.6%, 1.8% lower than February 2015, and 4.0% lower than March 2014.