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Kallanish Steel Weekly: India fails to prevent global output decline

Kallanish Steel Weekly: India fails to prevent global output decline (June 27, 2023)

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The global steel production decline deepened in May to 5.1% on-year, giving 161,594 tonnes, with only India, the Middle East and Africa registering significant growth, according to worldsteel data.

Chinese output dropped 7.3% to 90.1mt, while Japan and South Korea saw production fall 5% and 0.1% respectively to 7.65mt and 5.8mt. India, so often the lone bright spot in recent months, again provided rarely-seen growth impetus in May, with production rising 4% to 11.17mt.

Japanese and South Korean output did however rebound versus April.

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