Global crude steel production declined 4.6% year-on-year to 140.1 million tons in November, driven largely by a 10.9% drop in China, according to data released Tuesday by the World Steel Association.

India’s steel sector is likely to feel limited effects from U.S. tariffs, but exports to the European Union could be impacted due to the bloc’s carbon tax, according to India’s Steel Secretary Sandeep Poundrik.

China's steel exports surged to their highest level since 2015, raising concerns about increased trade tensions with countries already grappling with a flood of steel shipments.

China's steel exports are poised to hit an eight-year high in 2024, potentially exacerbating global trade tensions with a flood of low-cost supply.