World crude steel production rose 1.5 percent year on year to 165.1 million tonnes in May 2024, the World Steel Association reported on 24 June. China produced 92.9 million tonnes in the month, up 2.7 percent on May 2023, making May the strongest month of 2024 so far for the world's largest producer. Chinese output in the first five months of the year totalled 438.6 million tonnes, down 1.4 percent on the year, as mills balanced weak domestic demand against strong export orders. The May rebound followed three months of year-on-year declines in global output and came as Chinese steel exports surged, with shipments of 9.63 million tonnes in May alone. The 71 countries reporting to the association account for about 98 percent of total world crude steel production, and the May figures suggested mills were responding to restocking demand and overseas orders rather than to a recovery in Chinese construction.
Source: SEAISI (World Steel Association) — https://www.seaisi.org/details/24914?type=news-rooms
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