Global crude steel production up

In May this year, total crude steel production in the top 60 steel-producing countries was about 169.5 million tonnes, up 3.7% m/m compared to April and down 3.5% y/y.

World crude steel production in the first five months of this year amounted to 792.4 million tons, down 5.1% compared to the same period last year.

The total output of Asian countries has increased steadily, while the output of Europe has increased slightly, with the exception of Germany, where output has been declining from month to month.

Turkey's crude steel production fell the most in the world in May due to economic pressure in the country. At present, world steel prices are continuously falling, and market sentiment is somewhat pessimistic.