Global steel and raw material prices fell y-o-y in CY’25, according to BigMint’s analysis of yearly averages. The price corrections, which were seen across the board, were driven by subdued steel consumption, largely tied to weak domestic demand in China, a rapid growth in Chinese steel exports, and mounting geopolitical tensions. Global crude steel production fell by 2% y-o-y to 1,662 million tonnes (mnt) in January-November 2025 in response to slowing steel demand.
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