According to the World Steel Association (World Steel), India’s crude steel production increased by 4.1 percent to 11.2 MT in May 2023, despite a 5.1% decline in global output to 161.6 MT. Chinese crude steel production in May totaled 90.1 MT, maintaining its position as the world’s top producer of steel despite a 7.3 percent year-over-year (y-o-y) decline.
The agency reported in its most recent report that India produced 11.2 MT of crude steel, an increase of 4.1% from May 2022. At 7.6 MT, Japan’s output decreased by 5.2% year over year. With a 2.3% yearly decline, the United States produced 6.9 MT of steel.
Russia is thought to have produced 6.8 MT, an 8.8% increase. To 5.8 MT, South Korea only slightly decreased by 0.1%. While Brazil produced 2.8 MT, Turkey 2.9 MT, Germany produced 3.2 MT, Iran produced 3.3 MT in May 2023.
Brussels-based With members in each significant steel-producing nation, the World Steel Association is one of the largest business associations in the world. It represents the interests of steel manufacturers, regional and national steel industry associations, and steel research organizations. Members represent over 85% of the world’s steel output.
