World raw steel output in February totaled 63,623,000 tons, down 8.1 percent from January and 3 percent from the same 2000 month. The drop is due to slowing economies worldwide, starting with the U.S., Europe and Japan and other Asian countries. As Mr. Akira Chihaya, Chairman of the Japan Iron and Steel Federation (JISF), pointing out that "steel inventories are in the danger zone" re-emphasized the need for production cut, output is likely to continue falling. According to the information developed by the IISI and JISF, China led the pack on a single country basis with an output of 10,100,000 tons in. February for the fourth consecutive month-on-month increase but down 9 percent from January. Japan came in second with 7,929,900 tons but posted the first month-on-month decline in twenty months and a 12 percent fall from the previous month for the largest drop among major producers. The U.S. produced 6,964,000 tons, down 9.4 percent from January, which resulted in a collective three-country decline of some 10 percent. The EU (15 member countries combined) came up with 13,100,000 tons, 5 percent behind from the previous month.
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