Global crude steel production declined by 0.1 per cent in June to 158.8 million tonnes (mt) against 159.1 mt in the year-ago period 

According to the World Steel Association (worldsteel), top producer China produced 91.1 mt, up 0.4 per cent compared with the year-ago period. China produced 90.1 mt in May, a decrease of 7.3 per cent over May 2022. This is the first time that China has clocked positive growth since March.

India reported a 12.9 per cent rise in production at 11.2 mt. Overall, for the January-May period, India’s steel output has increased by 7.4 per cent at 67.9 mt.

Japan and Germany output slip

Steel production in Japan and South Korea dropped by 1.7 per cent and 0.9 per cent, respectively, to 7.3 mt and 5.5 mt. Production in the US and Russia was pegged at 6.8 mt and 5.8 mt, respectively, up by 0.5 per cent and 3.8 per cent year-on-year (y-o-y).

Germany’s production took a deep dive, going down by 8.4 per cent to 2.9 mt. Iran’s output shot by 17.4 per cent to 3.2 mt but Brazil reported a huge drop of 12.5 per cent at 2.6 mt.

For the January-May period, production in the 63 nations that account for 97 per cent of world steel output was pegged at 943.9 mt, down 1.1 per cent.