Global crude steel output sees steepest decline in 11 months in April
Date
5/22/2024 8:29:59 AM
(MENAFN) Global crude steel production saw its steepest decline in 11 months in April, dropping by 5 percent year-on-year, as reported by the World Steel Association (worldsteel) on Friday. The total production for the month was 155.7 million tons, a decrease from 164 million tons in the same month last year.
China, the leading steel producer globally, experienced a significant reduction in output, with production falling 7.2 percent year-on-year to 85.9 million tons in April. This substantial decrease in China's output was a major contributor to the overall decline in global steel production.
In contrast, India's crude steel production rose by 3.6 percent to 12.1 million tons, reflecting an annual growth trend. Japan's production, however, declined by 2.5 percent to 7.1 million tons. The United States also saw a reduction in crude steel output, which fell by 2.8 percent to 6.7 million tons, while Russia's production dropped 5.7 percent to 6.2 million tons during the same period.
Türkiye, which ranks as the world's seventh-largest crude steel producer, reported a 4.5 percent increase in production, reaching 2.7 million tons in April. This growth contrasts with the general downward trend observed in other major steel-producing countries.
For the first four months of the year, cumulative steel production for the 71 countries reporting to worldsteel amounted to 625.4 million tons. This represents a slight decline of 0.9 percent compared to the same period in the previous year. The data highlights the varied performance across different regions and underscores the challenges facing the global steel industry amidst fluctuating demand and economic conditions.
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