Global crude steel production decreased for the third consecutive month in May, with steelmakers responding to poor demand due to the Covid-19 pandemic by continuing to reduce output.
Steel production from the 64 countries that report to the World Steel Association (Worldsteel) totaled 148.8 million tonnes in May, down by 8.7% from 163 million tonnes in May 2019, according to data released on Monday June 22.Both April and March also recorded production declines year on year, while January and February posted small gains.Production in North America, which fell 31%, logged the largest year-on-year drop in May. The United States contributed to most of the losses, with steel production falling 36.6% to 4.8 million tonnes...