Global News Of Note: World Steel Trade Expanded In 2024

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• The World Steel Association reported last week that global steel trade of rolled and semi-finished products increased by 3.3 percent between 2023 and 2024. China maintained its number one ranking among exporters, increasing its supply to 117.1 million tons. China was followed by Japan and South Korea. The European Union was the top importer, bringing in 42.8 million tons of steel, or 9.2 percent more than the year before. The United States ranked second in terms of imports, bringing in 27.3 million tons, a 3.4 percent increase from 2023. Read more at the GMK Center.
• According to the General Administration of Customs of China, the country imported 223,202 tons of primary aluminum in May 2025, a 10.91 percent decline from April, but a 41.38 percent increase from May 2024. For the first five months of 205, China imported 1.06 million tons of primary aluminum. The figure was down 3.74 percent from the same period last year. Meanwhile, Chinese aluminum scrap imports fell 16.1 percent from April to May to 159,701 tons.
• Chinese domestic steel apparent consumption in May 2025 fell to 75.57 million metric tons, down 12.31 percent from May 2024, according to calculations by Platts. Read more at this link.
• China’s stainless steel imports were 125,100 metric tons in May 2025, down 12 percent from April 2025 and 28.28 percent year-over-year. China’s stainless steel exports were 436,300 metric tons, down 2.56 percent from April to May and 4.66 percent year-over-year.