China is the world’s top producer and consumer of the metal

Global Steel Output rises 2.9% Y-o-Y in Sept 2020, Lifted by Chinese Rebound

World crude steel production increased to 156.4 million tonnes, boosted by a strong recovery in China, which saw a 10.9% jump to 92.6 million tonnes, the World Steel Association (worldsteel)

China is the world’s top producer and consumer of the metal

All the growth was in China’s output. It looks increasingly likely that a revival in production elsewhere will have to wait until 2021

However, demand growth (in China) may ease back from here as the government has tightened lending conditions for property developers

There was a stark contrast between China, which has bounced back strongly due to heavy infrastructure stimulus spending, and the rest of the world

Steel production slid 18.5% in the United States, dropped 19.3% in Japan, and fell 9.7% in Germany

In Jan-Sept, steel production fell 3.2% globally and gained 4.8% in China, a group of producers that accounts for about 85% of global steel output

The group last week forecast that the coronavirus-related decline in global steel demand this year will be less than expected at 2.4% after a buoyant recovery in China