Global steel output surges 29 percent

Global steel output in Jan-May up 29.1% YoY. Global crude steel production jumped 29.80% in the first five months of the year to 586.059 million tonne, figures from the World Steel Association showed on Monday. Global crude steel output for the 66 countries reporting to the World Steel association was at 124.184 million tonne in May, up 29.1% from the same month a year ago. Production from China, the world's top consumer and producer of the metal, rose 20.70% in May to 56.143 million tonne. Japan produced 9.727 million tonne of crude steel in May 2010, up 50.2% from the same month last year. South Korea's crude steel production for May 2010 was 5.169 million tonne, up 28% from May 2009. German crude steel production for May 2010 was 4.074 million tonne, a jump of 87.7% from the same month last year.