World crude steel production fell 5.8 percent year on year to 161.0 million tonnes in March 2022, the World Steel Association reported on 22 April. First-quarter output totalled 456.6 million tonnes, down 6.8 percent, with China at 243.38 million tonnes, down 10.5 percent. March was the first full month of the war in Ukraine, and its effects were already visible: Ukrainian output collapsed as mills shut, Russian exports faced sanctions, and energy and raw material prices surged across Europe. Coking coal prices hit record highs, and European mills began warning that high gas and power prices would force output cuts. The figures covered the 64 countries reporting to the association, about 98 percent of world output. Despite the fall, March remained the strongest month of the year so far in absolute terms, and May would later top it, as mills outside the conflict zone ran hard to fill the gaps left by lost Russian and Ukrainian supply.
Source: Hellenic Shipping News — https://www.hellenicshippingnews.com/world-steel-association-march-2022-crude-steel-production-down-5-8-on-year/
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