SthAm crude steel production sinks 4.5% in Feb.

Overall crude steel production in South America was down 4.5% in February this year compared to February 2004, according to latest data released by the International Iron and Steel Institute (IISI). Data was affected slightly by February 2004 having 29 days because of the leap year, Brussels-based IISI noted. Brazil, South America's leading producer, turned out an estimated 2.5Mt, down 4.6% from 2.6Mt in February 2004. However, Argentina boosted production 2.2% on the month to 419,000t. Venezuelan output tumbled 18% to an estimated 310,000t, while production in Chile jumped 9.3% to 137,000t. Crude steel production is down 2.8% in South America in the first two months of 2005, IISI said. South American producers made 7.1Mt of steel in January and February, down from 7.3Mt in the same period of 2004. Brazil and Venezuela have seen the biggest drops in production among the leading steelmakers in the region, falling 3.9% and 11.9%, respectively. Global crude steel production climbed 3.7% in February to 83.9Mt for the 61 countries reporting figures, IISI said. Global leader China produced 24.8Mt of crude steel in February. Its production easily outdistanced No. 2 Japan, which had crude steel output of 8.7Mt. For the first two months of 2005, global production increased 6.2% to 174Mt, up from 164Mt in the same period of 2004.