In May 2024, Global crude steel production reached 165.1 million tonnes (mnt), up 1.5% year over year. Only India, out of the top five generating nations, had growth from January to May of 2024. The other five experienced y-o-y declines. Turkey saw the highest growth rate of 19.8%, while South Korea saw the most decline of 6.3%.From January to May of 2024, China’s output of steel, which was leading the world and far ahead of the rest of the world, decreased by 1.4% to 438.6 million tons. Volumes increased 7.7% to 61.9 mnt in India, the second-largest producer. The third-largest producer, Japan, saw a 2.3% year-over-year decline in production to 35.7 million tons. Korea’s decreased the sharpest among the top 10 from January to May of 2024, by 6.3%, to 26.4 mnt.
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