Steel Prices Stay Firm
With global steel demand running at an unprecedented level, rapidly rising prices have been a constant headache for ship repairers, as well as ship builders, in recent months. And despite sharply higher steel output, there is little sign of any softening as the New Year dawns. According to the International Iron and Steel Institute (IISI), crude steel production for the 62 countries reporting their figures was 945m tonnes by the end of November, up 9% on the corresponding period one year earlier. Analysts were expecting total production to break through the billion tonne mark easily by the end of the year for the first time ever. IISI figures show that China accounted for the largest increase in output.
World Steel Output Down
World steel output totaled 62.2 million tons in April, 4.3 percent down on the same month last year and 1.7 percent less than in March, the International Iron and Steel Institute (IISI) .
