China: Crude steel production decreases by 5%, y-o-y, in April

China’s crude steel production stood at 92.78 mnt in Apr’22, down almost 5% as against 97.85 mnt in the year-ago period, according to the National Bureau of Statistics (NBS). The recent outbreak of COVID-19, besides production cuts due to China’s carbon neutrality goals, resulted in a decline in crude steel production. However, on a m-o-m basis, steel output rose by 5% against 88.3 mnt in Mar.