MEPS Expects Global Steel Production to Decline by 1% in 2015

MEPS Crude Steel Production ForecastMEPS believe that worldwide crude steel output will be reported at 1.65 billion tonnes, this year. This equates to a decrease of 1 percent, compared with 2014’s global steel production. It is the first fall since 2009 – in the wake of the financial crash. Steel production gains in India and the European Union are likely to be outweighed by reductions in China, Japan, Ukraine and the United States.

Blast furnace ironmaking is forecast at 1175 million tonnes in 2015 – down 0.5 percent on the year earlier figure. Direct reduced iron production is also expected to slip marginally in the current twelve month period.

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