Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Global steel production started 2025 on a slower note, with economic challenges and trade policies impacting the industry. According to the World Steel Association, 69 reporting countries produced 151.4 million tonnes of crude steel in January, reflecting a 4.4% decline compared to the same period last year. This slowdown was observed across most regions, with Asia and Oceania witnessing a 4.5% drop to 112.3 million tonnes, while the European Union's output decreased by 3.3% to 10.3 million tonnes. North America reported a slight decline of 0.5%, producing 9.0 million tonnes. Interestingly, Russia, other CIS countries, and Ukraine were the only regions showing growth, with a 1.4% increase to 7.0 million tonnes.
The decline in production is attributed to several challenges, including trade policies, high production costs, and economic factors. In particular, the U.S. continued imposing tariffs on steel imports, affecting global trade dynamics. Additionally, tightened monetary policies and rising production costs led to reduced demand in key markets, further straining the industry. Ongoing geopolitical tensions and supply chain disruptions also contributed to the reduced output.
Despite the sluggish start, industry experts maintain a cautiously optimistic outlook for the rest of 2025. Fitch Ratings anticipates moderate recovery in global steel demand, driven by growth in emerging markets like India. However, the industry remains vulnerable to ongoing trade tensions and economic uncertainties. As steelmakers navigate these challenges, the global market will closely monitor policy changes and economic trends that could shape the industry's future trajectory.
Also Read : Trump Approves Nippon Steel’s $14.9B U.S. Steel Deal with “Golden Share” to Safeguard American Control China overtakes US as India's largest trading partner in FY24: GTRI
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