Between 2000 and 2021, global crude steel production witnessed a remarkable 131% increase—equivalent to over 1 billion tons—rising from 850 million tons to 1.963 billion tons. This growth was primarily driven by China’s accelerating steel output.
However, since 2021, this upward trend has come to a halt, and global steel production has entered a declining path. The main reason? A slowdown in production growth in China, the key player in this industry.
