Global News Of Note: World Steel Products Increases In May
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:
- World crude steel production for the 71 countries reporting to the World Steel Association was 165.1 million metric tons in May 2024, a 1.5 percent increase compared to May 2023. China produced 92.9 metric tons of steel in May 2024, up 2.7 percent year-over-year while the United States produced 6.9 metric tons, a number that was down 1.5 percent from May 2023. Overall, North American companies produced 9.4 metric tons of steel in May 2024, down 0.9 percent from a year earlier. Read the full report here.
- China’s crude steel output increased 8.1 percent between April 2024 and May 2024 and 2.7 percent between May 2023 and May 2024. The country manufactured 92.86 million metric tons of crude steel in May, the highest for a single month of production since March 2023. Read more here.