The global crude steel production witnessed modest decline until May this year. The most recent data published by the World Steel Association (worldsteel) suggests 5.2% year-on-year decline in output during this period.
The world produced 728.715 million tonnes (Mt) of crude steel during Jan-May ’20. This is modestly down by 5.2% when compared with the production of 768.683 Mt during the comparable period in 2019.
The Asian production totalled 532.285 Mt, accounting for just over 73% of the global steel output. The region reported 2.4% dip in output, compared with 545.443 Mt a year before. The Chinese output surged higher by 1.9% over the year. All other major producing countries in the region, including India, Japan and South Korea saw their output decline during the four-month period.
