There is a significant decline in global steel production!

According to the data released by the World Steel Association, global crude steel production decreased by 4.4% in January compared to the same month last year, falling to 151.4 million tons. This indicates how impactful global competition has become.

China, in particular, experienced a notable decline in crude steel production. In January, its production fell by 5.6% to 81.9 million tons. This raises questions about China's influence in the global steel market.

Japan's production also decreased by 6.6%, dropping to 6.8 million tons. However, the USA saw a 1.2% increase in crude steel production, reaching 6.6 million tons.

Similar declines were observed in Brazil and Russia. Brazil's production fell by 4.5%, while Russia's decreased by 0.6%. This highlights the challenges of competition in the global steel market.

India, on the other hand, increased its production by 6.8%, reaching 13.6 million tons. This showcases India's rise in the steel market.

Turkey's crude steel production also decreased by 1.4% compared to the same period last year, falling to 3.2 million tons. This situation reveals the challenges faced by Turkey's steel sector.