Market Data
February 25, 2022
Global Steel Production Slips in January
Written by David Schollaert
World crude steel production fell in January, unable to maintain the growth seen the month prior. Global output was estimated at 155 million metric tons last month, as steelmakers around the world cut production by 6.7 million metric tons or 2.3% from December, according to World Steel Association (worldsteel) data.
After hitting an all-time high of 174.4 million metric tons last May, world crude steel production has declined in six of the last eight months. The repeated reduction has been driven largely by continued Chinese cutbacks, and January was no exception. Chinese steel output was down 5.2% or 4.5 million metric tons last month versus December, yet production in the rest of the world was up a marginal 1.1% or 800,000 metric tons during the same period.
