The drop in global steel production indicates serious problems of the world economy
the President of the Japanese Federation of iron and steel Yoshihisa Kitano said on Tuesday that the annual the decline in the world production raw steel in September, which was the first fall in 41 months, said the slowdown in the global economy.
Global steel production in September fell by 0.3% compared to the previous year up to 151.5 million tonnes, which is the first decline since April of 2016.
Kitano, who is also President of JFE Steel, a unit of JFE Holdings, said at a press conference that the increase in exports of steel from India and Russia in ASEAN, reflecting the economic slowdown in Europe and India, is putting pressure on Asian steel markets.