Market Data
March 30, 2022
Global Steel Production Slipped in February: WSA
Written by David Schollaert
World crude steel production fell in February, declining for the second straight month. Global output was estimated at 142.7 million metric tons last month, as steelmakers around the world cut production by 12.3 million metric tons, or 7.9%, from January, according to World Steel Association (worldsteel) data.
After hitting an all-time high of 174.4 million metric tons last May, global steel output has waned in seven of the last nine months. The decreases have been driven largely by continued Chinese cutbacks, although February’s total saw a more widespread decline. Chinese steel production was down 6.7 million metric tons, or 8.2%, last month versus January. Output in the rest of the world also fell month on month in February by 7.6%, or 67.7 million metric tons.
