Morning Bites (part 1)

🔗Global crude steel output rose 6% YoY to 145mnt in December, after the +1% YoY in November, per World Steel Association data. China’s production (53% of global crude steel supply) jumped 12% YoY from the low base (but was still -2% YoY in 2024), while ex-China steel output slipped 1% YoY in December (flat YoY in 2024). The WSA numbers show that Russian and US production dropped 9% YoY and 2% YoY, respectively, last month, while EU supply gained 7% YoY. Indian output (~8% of global steel supply) grew 10% YoY in December, and was up 6% YoY on a whole year basis

We reiterate our view that the new economic support measures announced by Beijing might bolster the local property sector in 2025, but that more actions are required for a full-scale recovery in construction activity

#steel
https://metals-wire.com/sector/Steel