Steel output higher

OECD Observer

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World production of crude steel rose by 6.1% in 2002 to total 902.2 million tonnes, with the OECD accounting for more than half of the total. But the OECD’s 53.3% share was lower than its 55.2% showing in 2001, with output rising by 2.5%.

This increase contrasts with 2001, when OECD output declined by 4.7%, but overall world output had risen by 0.3%, reflecting an upsurge in Chinese production. Again, in 2002, the steepest increase in output came in China, up 20.3% to 181.6 million tonnes or 20.1% of the total, while output in the New Independent States fell by 5.6% to 99.9 million tonnes, or 11.1% of the total, Iron and Steel Industry in 2002 showed. The world’s major steel-producing economies, accounting for more than 90% of world steel production, are taking part in negotiations at the OECD aimed at eliminating trade-distorting subsidies on steel.

A meeting in February, including consultations with industry experts, covered general exceptions to a subsidies ban; preferential treatment for developing economies and economies in transition; notification and surveillance procedures and dispute settlement provisions. Further meetings are planned in late March and early May.

©OECD Observer No 242, March 2004

Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
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