Steel glossary

Steelonthenet.com have published a glossary of terms. If you would like to know what a 'cobble' is, or need 'residuals' explained, please visit http://www.steelonthenet.com/glossary.html

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World crude steel output forecast

MEPS have just published a medium term world crude steel production forecast. Please see table below. This shows year 2011 crude steel production at ~1.6 billion tonnes, which is some 28% up on 2006 world output. China alone accounts for 208 mt of this increase. The implication is that Chinese crude steel capacity is coming onstream at a rate close to one million tonnes a week ... Wow !

Crude Steel Production Forecast (millions tonnes)
Region	2006	2007	2011
W. Europe	235.1	242.3	263.0
Former USSR	119.8	125.3	153.0
NAFTA	131.5	133.3	135.5
South America	45.3	47.5	61.5
Africa/Middle East	34.0	34.9	49.0
China	422.1	492.5	630.0
Japan	116.2	119.7	122.0
Rest of Asia	136.3	145.8	177.0
Oceania	8.7	8.8	9.0
World	1249.2	1350.0	1600.0
Source: MEPS - Global Iron & Steel Production to 2011

For original MEPS report, visit http://www.meps.co.uk/global-production2011.htm

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