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World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.7 million tonnes (Mt) in April 2022, a 5.1% decrease compared to April 2021.

Chinese producers want to cut production volume in order to save price dropping in this week.

The American Iron and Steel Institute (AISI) reported that for the month of March 2022, U.S. steel mills shipped 7,835,600 net tons, a 1.4 percent decrease from the 7,950,431 net tons shipped in March 2021.

Finished Import Market Share YTD at 24%.

In the week ending on May 7, 2022, domestic raw steel production was 1,777,000 net tons while the capability utilization rate was 81.4 percent.

Finished Import Market Share Estimated at 25 Percent in April.

Analysis said that the demand in April may be lower than expected, restraining the rise of steel prices.

In 2023 steel demand will see further growth of 2.2% to reach 1,881.4 Mt. The current forecast is subject to high uncertainty.