Morning Bites (part 1)

🔗Global crude steel output fell 4% YoY to 151mnt in January, after the 6% YoY growth seen in December, according to World Steel Association (WSA) data. China’s production (54% of global crude steel supply) fell 6% YoY (vs. +12% YoY in December), while ex-China steel output also slipped 3% YoY. The WSA numbers show that Russian output inched down 1% YoY, while the US production rose 1% YoY last month, and EU supply fell 3% YoY. Indian output (~8% of global steel supply) grew 7% YoY in January

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. To recap, Beijing might announce the first details of its new consumption-related fiscal stimulus in March

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