Global Steel Output Growth Weakens in May
Annual growth in world crude steel production slowed to 2.0% in May, down from 5.0% in April, according to the World Steel Association. However, at 143.3 Mt, output was still close to the record 143.5 Mt achieved in March.
Major steel producers China (+1.8% to 72.3 Mt), Japan (+0.1% to 9.0 Mt), and the US (+0.2% to 7.0 Mt) all saw much slower production growth in May, while output in Germany (-1.4% to 3.8 Mt) and South Korea (-2.7% to 5.7 Mt) contracted. Nevertheless, at 694.9 Mt, global crude steel production in January-May was still up by 4.7% on the same period in 2016.