Global steel production falls in Feb.

Global crude steel production declined 3.4 per cent year-on-year to 144.7 million tons in February, according to data from the World Steel Association cited by Reuters on Tuesday.

The drop was driven by lower output from China, the world’s largest producer and consumer, which fell 3.3 per cent to 78.9 million tons.

Weaker demand and production curbs in China contributed to the decline, while other major steel-producing regions also faced slowdowns.

The data reflects ongoing pressure on the global steel industry amid economic uncertainty and fluctuating raw material costs.

Attribution: Reuters
Subediting: M. S. Salama