April witnesses 5% dip in global steel output

24 May 2024 CW Team

In April 2024, global crude steel output experienced a decline of 5 per cent, amounting to 155.7 million tonnes (mt), compared with the 164 mt recorded in the corresponding period the previous year. According to the World Steel Association (worldsteel), China, the leading producer, witnessed a decrease in output to 85.9 mt in April, marking a 7.2 per cent decline from the previous year. India, on the other hand, reported a 3.6 per cent increase in production, reaching 12.1 mt.

There was a significant increase in production in Germany, which saw a surge of 6.4 per cent, totaling 3.4 mt. Similarly, Turkiye experienced a 4.5 per cent surge in production, reaching 2.8 mt. Conversely, Iran's output decreased by 12.3 per cent to 2.7 mt, and South Korea witnessed a production decline of 10.4 per cent to 5.1 mt. Russia's production decreased by 5.7 per cent to 6.2 mt. The United States and Japan observed a decline in output by 2.8 per cent and 2.5 per cent, respectively, reaching 6.7 mt and 7.1 mt. Brazil's production also experienced a slight decrease of 2.1 per cent, amounting to 2.7 mt.

Regionally, Africa saw a 1.4 per cent increase in output, while the EU experienced a 1.1 per cent increase. However, Europe (Others) witnessed a decrease of 2.6 per cent in output. The steel production in Asia and Oceania plunged by 5.8 per cent. In West Asia, production plummeted by 8.2 per cent, and North America's output slipped by 5.2 per cent. South America's steel production decreased by 3.9 per cent compared to April 2023 figures. Russia and other CIS nations saw a decline of 3.5 per cent in their figures.

The World Steel Association, in its short-range outlook, forecasted that demand would see a 1.7 per cent rebound this year, reaching 1,793 mt. Steel demand is predicted to grow by 1.2 per cent in 2025, reaching 1,815 mt.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..