In May 2022, world crude steel production fell 3.5 percent year on year to 169.5 million tons (mnt), according to data released by the World Steel Association (WSA). However, volumes increased by 4% relative to the mother, compared to 162.7 million mnt in April 2022.
China's crude steel production
fell 3.5 percent from 100.1 million metric tons in May 2021 to 96.6 metric tons in May 2022. China's commitment to control carbon emissions by reducing its annual output since mid-March 2022, along with the Covid pandemic, has resulted in a drop in output with pent-up demand. In addition, the continuous decline in export offers in the last period also affected the demand in foreign markets.
India's crude steel output up 17%
Indian producers' crude steel output rose 17.3% to 10.6 mnt in May, compared to 9.04 mnt in the same period last year. Similarly, production volumes were up 5% from 10.1 mnt in April.
Primary steelmakers recorded significant growth in production and sales in May, thanks to increased capacity utilization and consumption. For example, India's apparent steel consumption amounted to 9.44 mnt in May, up 20 percent year on year and 4 percent month on month, according to the latest data released by the Joint Plant Committee (JPC). JSW Steel recorded its best-ever crude steel production of 1.79 mnt in May, compared to 1.36 mnt a year ago.
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