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The ArcelorMittal plant in Kryvyi Rih, Ukraine. The steel sector is a significant source of economic growth and employment for Ukraine.Credit...David Guttenfelder for The New York Times

ArcelorMittal increases buyback program, sees global steel dip

China's investment in the secondary industry grew by 16.1 percent year-on-year in the first quarter of this year, significantly higher than the 6.8 percent investment growth in the primary industry and 6.4 percent investment growth in the tertiary industry.

China exported 4.977 million tons of steel in April 2022, an increase of 32000 tons over the previous month, a year-on-year decrease of 37.6%.

Steel company ArcelorMittal said recently that it expected global steel consumption to shrink this year.