World crude steel production fell 3.3 percent year on year to 145.3 million tonnes in January 2023, the World Steel Association reported on 22 February. The decline extended the run of monthly falls that had marked most of 2022, as mills outside China continued to cut output in the face of high energy costs and weak demand, while China's recovery from its pandemic lockdowns was only just beginning. China, the world's largest producer, made an estimated 79.5 million tonnes in the month, down about 3 percent on the year. Production across the 63 countries reporting to the association covers about 97 percent of world crude steel output. January's figures came as China's steel market waited for demand to return after the Lunar New Year holiday and the end of the country's zero-Covid policy, with traders watching whether construction activity and manufacturing orders would pick up in the spring.
Source: World Steel Association — https://www.hellenicshippingnews.com/world-steel-association-january-2023-crude-steel-production-down-3-3/
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