The World Steel Association (Worldsteel) projected that global steel demand will rebound by 1.3% in 2026 to 1.77 billion tonnes. While Chinese demand is expected to decline by 1%, India’s consumption is forecast to grow by 9%, adding roughly 75 million tonnes of demand compared to 2020 levels.

World Steel Association data showed that in February 2023, the crude steel output of 63 countries in the worldsteel stood at 142.4 million mt, down 1.0% on the year.