China leads in global steel production despite its economic slowdown
Published: Thursday, 29 May 2014
Despite overcapacity and high raw material costs, global steel production achieved a record high this year. However, China’s dominance over the industry could lessen over the coming years as government plans to shut down inefficient plants comes to fruition.
World crude steel production totalled 1.6bn tonnes in 2013, a
record high for the industry, according to figures from the
World Steel Association (worldsteel).
China continues to dominate the steel industry. The country
produced 779m tonnes last year, an increase on the 2012 figure
of 731m tonnes.