According to the World Steel Association (worldsteel), India’s crude steel production increased by 4.1% to 11.2 MT in May 2023, despite a 5.1% decline in global output to 161.6 MT.
China continued to lead the world in crude steel production in May with 90.1 MT, despite a 7.3 percent year-over-year (y-o-y) decline, according to worldsteel data. Japan’s output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually.
Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023.
One of the biggest business organisations in the world, the World Steel Association is situated in Brussels and has members in all the main nations that produce steel.
In addition to national and local steel industry groups, it also represents steel research organisations. Members account for over 85% of the world’s steel production.