Increased production in China and India pushed up crude steel output in the 64 countries reporting to the World Steel Association by 3.5% on-year in February to 131.79 million tonnes. Overall the aggregated January-February crude steel production in the 64 countries rose 4% on-year to 276.65mt.

The data, indicating a strong beginning of the year for the global sector, were published as the market has entered in a new phase of uncertainty. This is due to the fall of Chinese prices, caused by the official implementation in the US of the new import tariffs announced by President Trump.

China’s crude steel output is estimated to have risen 5.9% in February to 64.9mt, while India’s production grew 3.4% to 8.43mt. Production in Japan and South Korea, however, fell -0.5% and -2.1% respectively to 8.3mt and 5.42mt.

EU output fell -0.8% in February to 13.35mt due to an estimated -3.2% contraction in Germany to 3.34mt. Nevertheless, Italian output rose 4.5% to 2.09mt, while French and Spanish production increased 1% and 0.4% respectively to 1.25mt and 1.12mt. Polish output is estimated to have grown 2.4% to 815,000t.