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Global steel output seen hitting a record 1500 million tonnes in 2011
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Tuesday, 02 Aug 2011
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Wall Street Journal quoted Mr Sahit Muja president & CEO of Albanian Minerals as saying that "I predict that world's crude steel production to hit a record of 1500 million tonnes in 2011 and China to produce 700 millions tonnes of crude steel in 2011."

He said that surging oil, natural gas, coal, raw materials prices and rising global commodities prices and inflation will also support iron ore and chrome ore prices. High global crude steel output and fall in iron ore and chrome ore shipments in June have supported ore prices. Chrome ore prices are up 10% and iron ore prices have gone up by 3.5% in past two weeks.

World crude steel production for the reported 64 countries was 128 million tonnes in June 2011. The crude steel production was 8% in June 2011. World crude steel production in the first six months of 2011 was 757.8 million tonnes, up by 7.6% YoY.

India produced 6.0 million tonnes for June 2011, up by 7.3% YoY. South Korea's crude steel production for June 2011 was 5.7 million tonnes, up by 19% YoY.

In the EU, Germany's crude steel production for June 2011 was 3.9 million tonnes, up by 0.2% YoY. Italy produced 2.6 million tonnes, up by 15.2% YoY. Spain's crude steel production up 4.5% on June 2010. France produced 1.4 million tonnes of crude steel in June 2011, a decrease of 6.1% YoY.

(Sourced from www.wsj.com)

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