Mideast crude steel output in May highest in the world: report

June 23, 2014 5:06 am

The World Steel Association has said global crude steel production rose at an annual 2.2% rate in May, as output in China hit new record levels and North American and European mills cranked up production, pressuring prices the world over, Reuters has reported. Worldwide crude steel output hit 141 million tonnes in May, nearing the record seen in March. The increase was driven by an annual 2.6% growth in China’s output to 70.4 million tonnes, the data showed. The fast industrialising Middle East showed the highest growth rate in May, rising 7.3% to 2.4 million tonnes, the report said.