Global steel production surges 16.5% in May

By Tuba Sahin

ANKARA (AA) - Global crude steel output rose 16.5% year-on-year this May, said the World Steel Association on Tuesday.

Crude steel production for the 64 countries reporting to the platform reached 174.4 million tons in May, according to the association.

Turkey, the eighth-largest crude steel producer, saw a 42.4% surge in crude steel production last month, to 3.2 million tons.

China remained the world’s largest crude steel producer with more than half of global output. Its steel output hit 99.5 million tons in May, climbing 6.6% from the same month of last year.

The figure stood at 9.2 million tons in India, the second-largest producer, a jump of 46.9% during the same period.

The other major producers Japan and the US saw crude steel output rising 42.2% and 47.6% to 8.4 million tons and 7.2 million tons, respectively.

In the first five months of this year, global steel production jumped 14.5% on an annual basis to 837.5 million tons.

The World Steel Association is a prominent industry group, with its members representing around 98% of global steel production with more than 160 steel producers.​​​​​​​​​​​​​​