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Global crude steel production declined by 3.8% year-over-year in May 2025, reaching 158.8 million tonnes, according to the World Steel Association. The drop reflects weakening demand across major economies, particularly in the construction and manufacturing sectors.
China, the world’s largest steel producer, recorded a significant 6.9% decrease in output, producing 86.6 million tonnes in May. This contraction continues a trend observed throughout the year as the country’s real estate and infrastructure activity remains subdued.
The decline is not isolated to China. Global production has been trending downward in recent months, with similar year-on-year drops recorded earlier in 2025 and a 0.9% decrease noted for the full year 2024.
Weaker industrial activity, cautious investment sentiment, and lingering economic uncertainties have all contributed to the steel sector’s slowdown. While lower production levels could potentially ease global oversupply and support prices, sustained recovery depends on a rebound in downstream demand.
Outlook:
If demand in key sectors like construction and automotive picks up, especially in Asia and Europe, a modest recovery in steel output could emerge in the second half of 2025. Until then, producers are likely to remain cautious and closely monitor market signals.
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