Analysis of crude steel production trend

Crude steel production (mt)
Country	2002	2003	2004	2005	2006	2007	2008	CAGR (2002-2008)
China	182.2	222.4	280.5	355.8	423.0	489.2	502.0	18.4
Japan	107.7	110.5	112.7	112.5	116.2	120.2	118.7	1.6
USA	91.6	93.7	99.7	94.9	98.6	98.2	91.5	0.0
Russia	59.8	61.5	65.6	66.1	70.8	72.4	68.5	2.3
India	28.8	31.8	32.6	45.8	49.5	53.1	55.1	11.4
South Korea	45.4	46.3	47.5	47.8	48.5	51.5	53.5	2.8
Others	388.6	404.5	431.4	424.9	446.1	460.8	440.4	2.1
Total	904.1	970.7	1070.0	1147.8	1252.7	1345.4	1329.7	6.6
Source: WSA

Growth in crude steel production (%)
Country	2002	2003	2004	2005	2006	2007	2008
China		22.1	26.1	26.8	18.9	15.7	2.6
Japan		2.6	2.0	-0.2	3.3	3.4	-1.2
USA		2.3	6.4	-4.8	3.9	-0.4	-6.8
Russia		2.8	6.7	0.8	7.1	2.3	-5.4
India		10.4	2.5	40.5	8.1	7.3	3.8
South Korea		2.0	2.6	0.6	1.5	6.2	3.9
Others		4.1	6.7	-1.5	5.0	3.3	-4.4
Total		7.4	10.2	7.3	9.1	7.4	-1.2

Share in crude steel production (%)
Country	2002	2003	2004	2005	2006	2007	2008
China	20.2	22.9	26.2	31.0	33.8	36.4	37.8
Japan	11.9	11.4	10.5	9.8	9.3	8.9	8.9
USA	10.1	9.7	9.3	8.3	7.9	7.3	6.9
Russia	6.6	6.3	6.1	5.8	5.7	5.4	5.2
India	3.2	3.3	3.0	4.0	4.0	3.9	4.1
South Korea	5.0	4.8	4.4	4.2	3.9	3.8	4.0
Others	43.0	41.7	40.3	37.0	35.6	34.3	33.1
Total	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Comments

· 2008 is the second consecutive year that world crude steel production has been over 1,300 mt

· China became the only country to produce more than 500 mt ever

· China and India have shown a growth of 2.6% and 3.8% in 2008, as against negative growth rate of of -1.2% globally

· China and India have shown CAGR of 18.4% and 11.4% over the period 2002-2008, as against global CAGR of 6.6%

· China continued to increase its share in global production to 37.8% as against 36.4% in previous year

· Region-wise, only Asia and Middle East showed positive growth of 1.9% and 1.2%, respectively

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