According to the data of
World Steel Association (Worldsteel) that global crude steel production fell by
2.1% to 139 million tons in May compared to the same month a year ago, as
output declined in most major producing regions especially in China, which
produces half the world's steel, falling 1.7% to 70 million tons.
As a top steel user at the same time, China 's economy is entering a more
mature, less industry-intensive phase of development, hence a fading demand and
an output decline. It was not therefore expected to support global steel
prices.
Other than China, Worldsteel's data shows that crude steel output fell 6.7% in
North America, 7.6% in the Commonwealth of Independent States and 2.2% in
Africa. Output grew slightly in the European Union, South America and the
Middle East.
Source:
yieh.com