The global crude steel output decline deepened in December, as China, the EU and US all saw steel drops to close out 2022.
Global crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) slid 10.8% on-year in December to 140.7 million tonnes. Compared to November 2022, though, output recovered 2%, bringing some small signs of a potential rebound in the market.
Chinese output fell 9.8% on-year in December to 77.89mt, nevertheless rebounding 4% on-month. Indian output rose 0.8% on-year to 10.57mt, while Japanese and Korean output was down 13% and 11.6% respectively to 6.9mt and 5.25mt. In the latter’s case, production also recovered from November.
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Very good overview of the weekly steel market.