Morning Bites (part 1)

🔗Global crude steel output was down 1% YoY to 142mnt in February, following the 3% YoY decline in January, according to the World Steel Association. The dynamics were mixed in China and ex-China regions. The 6% YoY growth in China's output (56% of global steel supply in February) was likely due to the low base effect from production curbs a year ago, as well as to the economic recovery withthe country exiting its zero-COVID policy. Ex-China steel production, however, shrank 8% YoY. In particular, steel output in the EU declined further, down 13% YoY, amid the local energy crisis. US steel production decreased 5% YoY (vs. the 10% YoY decline in January). Russia’s steel output also shrunk: it was down 9% YoY in February, the same dynamics as in January

#steel
https://metals-wire.com:3000/sector/Steel