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Global steel output grows 3.7% in 2021 despite Chinese weakness -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Employees at Dongbei Special Steel Group Co. Ltd., Dalian (Liaoning), March 16, 2015 REUTERS/China Daily

LONDON (Reuters – The global crude steel production increased 3.7% to 1.95 billion tons last year. That was despite lower output in China’s top producer, World Steel Association data revealed on Tuesday. It is due to a reduced energy supply that has limited operations and lowered China’s overall output.

China’s steel production fell 3% by 2021. Second-ranked India experienced an output increase of 17.8%, and Japan saw its output rise by 15.8%. Both countries were recovering from the COVID-19 pandemic.

According to data, global steel production declined by 3% in the final month of this year, reaching 158.7 millions tonnes.

China was also the top buyer of steel in the world, with a 6.8% drop in crude steel production to 86.2 millions tonnes in December.

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