World crude steel production fell 2.6 percent year on year to 139.1 million tonnes in November 2022, the World Steel Association reported on 22 December. China produced 74.5 million tonnes, up 7.3 percent, again against a weak comparison base from the previous year's curbs. Output in the first eleven months totalled 1,691.4 million tonnes, down 3.7 percent. The figures covered the 64 countries reporting to the association, about 98 percent of world output. November was also the month India scrapped the steel export duties it had imposed in May, a sign that the market had turned from shortage to surplus. With one month of the year left, the industry was heading for its first annual decline since 2015, a reminder of how far output had fallen from the record levels of 2021.
Source: World Steel Association — https://worldsteel.org/media/press-releases/2022/november-2022-crude-steel-production/
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