14.7%

Finweek English Edition - - IN BRIEF -

The decline in ArcelorMit­tal’s lo­cal steel pro­duc­tion in 2014 to 4.5m tons due to the re­line of its New­cas­tle blast fur­nace. The coun­try’s steel con­sump­tion, a bell­wether of eco­nomic ac­tiv­ity, de­clined by 9% to about 4.9m tons as load-shed­ding, labour dis­rup­tions and a weak con­struc­tion i ndustry damp­ened de­mand. In China, the world’s largest steel con­sumer, de­mand dropped for the first time in 14 years, ag­gra­vat­ing ex­cess global ca­pac­ity.

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