According to the Turkish Steel Producers Association (TCUD), data released by the World Steel Association (Worldsteel) for November shows that despite the continued decline in global crude steel production, production trends are clearly diverging across countries and regions. The figures show that instead of a steady decline in global supply, production centers are gradually becoming more diversified.
General forecast of global steel production
According to TCUD estimates, global steel production declined year-on-year in both November and January-November. However, he stressed that this reduction was largely due to lower production in Asia, especially in China. Worldsteel data indicates that the decline in Chinese production has increased downward pressure on global total volume, while some other Asian countries and regions have shown more balanced trends or even growth.
According to Worldsteel data for November and January-November, supply-side events in the global steel market do not indicate unidirectional contraction. Instead, they show a deepening divergence between countries and regions.
TCUD noted that although the overall global reduction remains limited, the presence of countries and regions showing production growth is one of the key indicators of the rebalancing in global crude steel production.
