World Crude Steel Output of Major Producing Countries (in Jan’23)

The world’s largest steel producer and guzzler made a post-Covid comeback with offers that were aggressively lower than India’s in a bid to capture a large chunk of the market.The country is using crude steel production cuts as one of the stepping stones to its decarbonisation goal. However, worldsteel data reveals, in January 2023, China’s crude steel output was up 2.3% y-o-y to 79.50 million tonnes (mnt). It is also up 2% m-o-m from 77.89 mnt in December 2022.