Global Steel Output Plunges 3.8 Percent in May
(MENAFN) Global crude steel output shrank by 3.8% to 158.8 million tons in May compared to last year, driven primarily by significant declines in China and Japan, revealed data from the World Steel Association on Tuesday.
China, the leading crude steel producer worldwide, saw its output drop sharply by 6.9%, totaling 86.6 million tons in May.
Similarly, Japan experienced a 4.7% decrease, producing 6.8 million tons during the month.
In contrast, the United States recorded a 1.7% rise in crude steel production, reaching 7 million tons, while Brazil's output climbed 5% to 2.7 million tons.
India’s production surged 9.7%, hitting 13.5 million tons, and Iran also reported growth with a 4.5% increase to 3.4 million tons.
Meanwhile, European producers faced declines, with Germany’s steel output dropping 6.4% to 3 million tons and Russia’s falling 6.9% to 5.8 million tons in May.
Türkiye’s crude steel production also slipped by 2.8%, totaling 3.1 million tons compared to the same month last year.
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