Global crude steel production drops 5.9% in October due to decline in China

Global crude steel production fell 5.9% year-on-year to 143.3 million ton in October, as production in China dropped 12.1%, according to data released by the World Steel Association on Friday.

Last month, China, the world's largest steel producer, saw its production fall to 72 million tons, the data showed.

Japan's production fell 1% to 6.9 million tons in October, while US production jumped 9.4% to 7 million tons.

Germany's production slipped 3% to 3.1 million tons in October, while South Korea's production was also down 5.8% to 5.1 million tons.

Meanwhile, Türkiye's crude steel production climbed 3.1% on an annual basis in October, reaching 3.2 million tons.

During this period, steel production in Brazil was down 2.7% to 3 million tons, while it was estimated to have increased by 12% in Iran, reaching 3.3 million tons.

Meanwhile, global crude steel production this January-October fell 2.1% compared to the same period of last year, down to 1.5 billion tons.