World crude steel production fell 1.5 percent year on year to 149.3 million tonnes in September 2023, the World Steel Association reported on 25 October. China produced 82.1 million tonnes, down 5.6 percent on September 2022, as mills cut output again after the summer rebound. Production in Asia and Oceania fell 2.1 percent to 110.7 million tonnes. September's decline ended two months of year-on-year growth and showed that the Chinese market had not found a stable footing: demand from construction remained weak, and mills were caught between high raw material costs and soft steel prices. The association's data covered the 63 countries reporting to it, accounting for about 97 percent of world crude steel production. The decline was broad-based across Asia and Oceania, where output fell 2.1 percent to 110.7 million tonnes, and European mills also kept cutting back as energy costs stayed high and construction demand stayed weak.
Source: Hellenic Shipping News — https://www.hellenicshippingnews.com/world-steel-association-september-2023-crude-steel-production-down-1-5-in-september/
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