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Kallanish Steel Weekly: Global crude steel output ends 2022 negatively but with signs of a rebound (Feb. 7, 2023)

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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