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World Steel Production Up 1.9% in 2012 to 1.55 Billion Tons, Despite Slowdown


Industry Segment: Metals & Minerals | Word Count: 382 Words

JOHANNESBURG--November 1, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--World steel production will see a year-over-year increase of 1.9%, despite the economic slowdown. MEPS (Sheffield, England), an international steel industry consultancy, reports that in 2012, global steel production is expected to reach 1.55 billion tons, and a further increase is anticipated in 2013. But in the European Union (EU), steelmaking will decline 4.5% in 2012 as regional producers continue to restrict supply in response to weak demand caused by the fragile economic situation.

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