Crude steel production reported by the World Steel Association was 1,526.9 megatonnes in 2011, up 6.8% over 2010. This is a new record for global crude steel production. Imagine what the demand for steel would be if we had a robust recovery free of economic temblors!
United States production was 3rd world wide with 86.2 megatonnes after China at 695.5 megatonnes, and Japan at 107.6 megatonnes. The US figure was up 7.1% over 2010.
In 2011, crude steel production in North America was 118.9 Mt, an increase of 6.8% on 2010. The US produced 86.2 Mt of crude steel, 7.1% higher than 2010.
While prices have softened lately, we continue to be bullish for higher prices long term based on global demand due to improved living standards everywhere.
By our calculations this 1.5 billion tonnes of steel is approximately 0.22 of a tonne per person or about 486 pounds per person for each of the 6.9 billion folks on the planet.
1,526.9 MT= 1562900000 tonnes = 1.72280235 × 109 short tons = 3.4456047 × 1012 pounds