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Steel manufacturing in Europe, excluding the EU and CIS, should reach 40 million tonnes in 2014 - a rise of 3.1 percent, year-on-year.

07 May 2014

LONDON (Commodity Online): Strong growth in Asia production and increase in European Union (EU) production after two years of decline, will raise total production of steel by 3% to 1655 mn tons in 2014, according to MEPS International.

MEPS estimates a growth of 2.6% for EU region at 170 mn tons.  Steel manufacturing in Europe, excluding the EU and CIS, should reach 40 million tonnes in 2014 - a rise of 3.1 percent, year-on-year.

Our 2014 forecast for steelmaking in the CIS has been downgraded in this issue and now stands at 108.5 million tonnes. This represents a slight decrease from the previous year’s outturn.

North American raw steel production is predicted to be relatively unchanged this year, compared with the figure recorded in 2013.

"Our prognosis for the outturn of crude steel in South America this year is 46.7 million tonnes - up 1.5 percent from the 2013 level," MEPS said.

Steel manufacturing in Africa is forecast to increase this year to 16.55 million tonnes. This equates to a rise of 3.1 percent, compared with 2013.

Another record steel output figure is forecast for 2014 in the Middle East. At 27.4 million tonnes, this will be the sixteenth consecutive annual rise in production. Total Asian steel manufacturing should reach a figure of more than 1.1 billion tonnes this year. This equates to an increase of 3.7 percent, year-on-year.


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