BUSINESS INFORMATION - World steel production reached its highest level

BUSINESS INFORMATION - World steel production reached its highest level since the beginning of the year in the last month (July), but still down 11.1 percent from July 2008 due to the economic crisis, said the World Steel Association (World Steel Association / WSA) Thursday.

Production of 66 major steel producing countries registered by the association to reach 103.9 million tons, up from 99.7 million tons in June, the association said.

Production of steel from China, which has increased since April, rising to be 50.7 million tons in July - 12.6 percent higher than in July 2008.

However, the EU steel production is still lower than the 35.6 percent in July 2008 and U.S. production down 41.6 percent, under the impact of global economic crisis.

Steel production has been falling in recent months because the global economic crisis lead to a request from the construction industry and the automotive industry to decrease