Global crude steel production decreased by 1.3% in July compared to the same month last year, reaching 150.1 million tonnes, according to data released by the World Steel Association on Friday.

China, which holds the position as the world’s largest steel producer and consumer, saw a more significant decline with output falling 4.0% to 79.7 million tonnes in July.

The figures highlight ongoing production adjustments in the global steel industry, with China’s reduction having a substantial impact on worldwide numbers given its dominant market position.
Source: Investing.com