World Crude Steel Production
World crude steel production totaled 169.5 Mt in May, falling 3.5% from the same month last year, according to the World Steel Association. Chinese output fell 3.5% year-on-year to 96.6 Mt despite reaching a 12-month high, while Japanese production contracted 4.2% to 8.1 Mt. In contrast, India increased production by 17.3% to 10.6 Mt resulting in overall output in Asia only declining by 1.7% to 126.2 Mt.
Meanwhile, EU production fell 6.8% to 12.9 Mt as German output declined by 11.5%, while North America produced 9.9 Mt of crude steel, down 4.0% from the year before.