The World Steel Assocation reported that world crude steel production for the reporting 66 countries was 108 million metric tons (mmt) in February. This is 24.2% higher than February 2009. Compared to the same month in 2009, February 2010 crude steel production showed a continued increase in all the major steel-producing countries. The U.S. produced 6.0 mmt of crude steel in February 2010, an increase of 51.3% compared to February 2009. Japan produced 8.4 mmt of crude steel in February 2010, up 54% compared to the same month last year.
The American Iron and Steel Institute(AISI) praised the stand of over a dozen Senators who called for the U.S. government to take a tougher stance against China’s currency manipulation practices. Senators Debbie Stabenow (D-Mich.), Charles Schumer (D-N.Y.), Sherrod Brown (D-Ohio), Lindsay Graham (R-S.C.) and Sam Brownback (R-Kan.) unveiled new legislation to combat currency manipulation by the Chinese government.