World crude steel production fell 6.5 percent year on year to 149.3 million tonnes in July 2022, the World Steel Association reported on 23 August. It was the lowest monthly total since February and the steepest year-on-year fall of the year so far. China produced 81.4 million tonnes, down 6.4 percent, as mills cut output in response to losses and weak demand. Output in the first seven months totalled 1,102.3 million tonnes, down 5.4 percent. The figures covered the 64 countries reporting to the association, about 98 percent of world output. July also saw iron ore prices slide towards 100 dollars a tonne and the creation of a new central iron ore buyer in China, as Beijing moved to strengthen its bargaining power over raw material suppliers. The month showed an industry under pressure from every side: weak demand, falling prices and high costs.
Source: World Steel Association — https://worldsteel.org/media/press-releases/2022/july-2022-crude-steel-production/
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