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MEPS predicts global crude stainless steel production to hit 60 million tonnes in 2023, driven by China and Indonesia. India's production is expected to rise.
World crude steel production in January 2023 declined by 3.3%. Regions including Russia, Europe, EU, North America, Africa, Asia/Oceania, and South America reported production decreases, while the Middle East saw an increase.
Steel is widely used in mining due to its durability and corrosion resistance. It is used for tools, equipment, infrastructure, machinery, grinding balls, railway lines, and high-strength plates.
South Africa imported 1,299,257 tonnes of primary carbon and alloy steel products in 2022, down 5.1% from 2021. Imports surged 42.7% compared to 2019.
Global crude steel production in Jan-Dec 2022 was 1,831.5 Mt, down 4.3%. India was the only Top 10 producer with positive growth, and China remains the largest producer.
Global crude steel production decreased by 3.7% in Jan-Nov 2022 compared to the same period in 2021. Steel demand is expected to rebound slightly in 2023.
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