World crude steel production rose 6.6 percent year on year to 158.5 million tonnes in July 2023, the World Steel Association reported on 22 August, the strongest monthly increase of the year. The gain was driven by China, where mills raised output after the cuts of May and June, while production outside China remained subdued. Over the first seven months of the year, world output totalled 1,103.2 million tonnes, down just 0.1 percent on the same period of 2022, erasing almost all of the first-half decline. July's rebound showed how quickly Chinese mills could swing production back up when margins improved and policy signals turned supportive. But with demand from the property sector still weak, the higher output also raised the risk of renewed price pressure in the autumn.
Source: SEAISI — https://www.seaisi.org/details/23391?type=news-rooms
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