The global steel industry is adjusting its landscape

The pattern of the global steel industry is undergoing adjustment, and the center of the world's steel industry is shifting to Asia. The fluctuations in crude steel production in various regions and countries around the world reflect changes in the balance of economic power between countries and regions.

The changes in global steel production to some extent reflect the current state of the global economy. According to data from the World Iron and Steel Association, the crude steel production of 63 countries included in the World Iron and Steel Association's statistics in February 2023 was 142.4 million tons, a year-on-year decrease of 1.0%. As a fundamental material, steel is a strong support for the manufacturing industry, and the decline in global steel production reflects the weakness of the global manufacturing industry and the downturn of the world economy.