Finished steel consumption in April-May rose by 10.1pc on the year to 18.5mn t, while production climbed by 7.7pc against the previous year to 19.11mn t.

In late May 2022, key iron and steel enterprises produced 25.5119 million tons of crude steel, 22.5128 million tons of pig iron and 24.9286 million tons of steel.

Brazil produced 2.9 Mt, down 4.0%. Iran is estimated to have produced 2.2 Mt, down 20.7%.

US domestic raw steel production in the week ending on June 4, 2022 down 3.2 percent.

Japan's ferrous scrap exports continued to recover in April on sustained demand from South Korea.

In the week ending on May 21, 2022, US domestic raw steel production was 1,789,000 net tons while the capability utilization rate was 82.0 percent.

American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,729,000 net tons (NT) of steel in April 2022.

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.