Global crude steel output slipped 8.7% in May to 148.8-million tonnes as many steelmakers shut operations due to the Covid-19 pandemic, even as top producer China was resilient and pumped out more of the metal.
Crude steel output from China, also the world’s biggest consumer of the metal, increased 4.2% year-on-year to 92.3-million tonnes in May.
But production tumbled 36.6% in the United States, 31.8% in Japan and 26.8% in the European Union, the data showed.
Indian output slid by 39.1%, while the drop in South Korean production was less severe, at 14.1%, World Steel said.
The trade association, whose members account for about 85% of global steel production, forecast earlier this month that global steel demand was expected to fall 6.4% this year, but bounce back next year