Global crude steel production dips by 2% y-o-y in CY’25

Global crude steel production totalled 1,849.4 million tonnes (mnt) in CY’25, down 2% y-o-y from 1,886.8 mnt in CY’24, as per data from the World Steel Association (WSA). The decline was expected, with output from China, the largest producer accounting for over 50% of the world total, falling by 4.4% to a seven-year low of 960.8 mnt. Moreover, a number of leading producers, including Japan, Russia, and South Korea, also recorded modest declines, struggling with weak demand and sluggish economic growth.