According to the latest data regarding crude steel production in France released by the French Steel Federation, French crude steel production amounted to 1,300,400 tonnes in February 2012, up by 9.3% YoY and down by 4.2% MoM.
In February 2012, steel production in France using electric arc furnaces rose by 20.2% YoY, amounting to 531,250 tonnes, while steel production with blast furnace technology totaled 769,150 tonnes, increasing by 2.8% YoY.
Meanwhile, in the first two months of the current year, France's crude steel production amounted to 2,668,550 tonnes, increasing 10.6% YoY. In the given period, steel production in France using electric arc furnaces rose by 17.5% YoY, reaching 1,076,500 tonnes, while steel production with blast furnace technology totaled 1,592,050 tonnes, declining by 6.4% YoY.
The FFA also noted that domestic crude steel production in February 2012 was still 18.5% below the January 2008 production figure.
March non-oil exports weaker than expected
NON-OIL domestic exports (NODX) for March were weaker than expected, but it doesn't necessarily mean the official estimate for the first quarter's economic growth will be adjusted down further.