Steel production at record of 1,500 million tons in 2012

Sahit Muja:  Global Steel Production

Steel production at record of 1,500 million tons in 2012

Steel market will start recovering firmly in Spring 

With the growth in the global economy  the steel industry should continue on its recent improvement trend.  Albanian Minerals  expect global steel demand to increase of 7 per cent this year.

The steel industry worldwide has recorded high growth rates in both production and consumption over 2010 – 2011 benefiting from soaring steel demand in the automobile and construction sectors. 

Price of steel is expected to increase .

Prices of  main ingredients of steel  iron ore, chrome ore will continue to increase. 

Surging raw materials prices, and rising global commodities prices and inflation will also  support steel prices world's steel production will reach a new record of 1,500 million tons in 2012.

The steel market will start recovering firmly in Spring  to lead to a higher benchmark price for the second quarter, fairly reflecting the various cost raising factors, such as price rise of power, fuel and carbon reductants, higher costs to keep skilled workforce, increased royalties and taxes etc. 

Sahit Muja

Presidenr and CEO

Albanian Minerals

New York