World crude steel production fell 3.5 percent year on year to 169.5 million tonnes in May 2022, the World Steel Association reported on 22 June. China produced 96.6 million tonnes, also down 3.5 percent, as lockdowns began to ease and mills lifted output from April's lows. May was the strongest month of the year in absolute terms, and the second-highest monthly total on record, behind only May 2021. The smaller year-on-year decline suggested the downturn was moderating, but the improvement was uneven: Chinese mills were still losing money on weak prices, while Indian producers were running hard to export at high prices before New Delhi imposed export duties later in the month. The figures covered the 64 countries reporting to the association, about 98 percent of world output. May's total would not be beaten for the rest of the year.
Source: World Steel Association — https://worldsteel.org/media/press-releases/2022/may-2022-crude-steel-production/
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