The global growth of crude steel product comes as steel manufacturers adjust output to weaker demand and falling prices
According to figures by The World Steel Association (Worldsteel), global growth of crude steel production in April rose by 1.2% year-on-yearto 128 million tonnes, as steel manufacturers adjusted their output to weaker demand and falling prices.
Last month, Worldsteel forecast global steel consumption growth to slow this year, on weaker economic growth in top consumer China and uncertainties about the debt crisis in the euro zone.
Steel consumption generally peaks in the northern hemisphere spring, as construction and manufacturing activity quickens in the warm, dry months preceding the summer break.
Steel output in China, the world’s largest producer and consumer of the alloy, rose by 2.6% to 60.6 million tonnes in April, the data showed.