World Steel Association (Worldsteel), headquartered in Brussels, announced the crude steel production data for May.

Accordingly, global crude steel production fell by 5.1 percent to 161.6 million tons last month, compared to the same period of 2022.

It was estimated that the production of China, the world’s largest steel producer, decreased by 7.3 percent to 90.1 million tons in the said period.

Japan’s production fell 5.2 percent to 7.6 million tons, and the US’s production fell 2.3 percent to 6.9 million tons.

Germany’s production rose by 0.2 percent to 3.1 million tons.

Turkey’s crude steel production decreased by 10.4 percent in May compared to the same period of the previous year and decreased to 2.9 million tons.

In the said period, steel production is estimated to have increased by 8.8 percent to 6.8 million tons in Russia, and to 3.3 million tons with an increase of 8.8 percent in Iran.

Global crude steel production decreased by 1.2 percent to 786 million tons in January-May 2023 compared to the same period last year.

The World Steel Association expects global steel demand to increase by 1.7 percent in 2024, following the projected 2.3 percent increase in consumption this year due to the recovery in manufacturing activities.

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