(MENAFN) Global crude steel output dropped 4.2 percent on a yearly basis to reach 1.9 billion tons last year, in line with World Steel Association (worldsteel) figures issued on Tuesday.
Apart from India and Iran, the glob’s leading 10 steel manufacturers witnessed a decrease in production in 2022.
The world's number one steel manufacturer China witnessed a 2.1 percent decrease in its last year number of 1.01 billion tons.
The steel output of India – the number two producer – increased 5.5 percent to reach 124.7 million tons in 2022. The number was 7.4 percent lower to reach 89.2 million tons in Japan and decreased 5.9 percent to amount to 80.7 million in the US.
Turkey, the world's eighth-biggest crude steel producer, recorded a 12.9 percent fall in crude steel output in 2022, to stand at 35.1 million tons.
In December, world steel production for the 64 nations reporting to worldsteel dropped 10.8 percent on a yearly basis to 140.7 million tons.
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