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Amid Declines, China Tops Global Steel Production Charts Again
China was the largest end-user of steel in 2022. According to the World Steel Association’s (Worldsteel) “2023 World Steel Report,” the country consumed 51.7% of the 1.78 million metric tons of finished products rolled last year. That percentage was unchanged from the previous year. At that time, China’s apparent steel consumption was 954 million metric tons out of 1.84 billion tons of finished products. Obviously, demand, consumption, and production all have vast implications or global steel prices. At 52%, more than half the global steel consumption in 2022 was in building and infrastructure. This included ... (full story)