India emerged as the only top-five steel producer to see production growth in April, while others saw declines of up to 7%. China, the global leader, reported a 7% year-on-year drop to 85.9 million tons. From January to April, China's output fell 3% year on year to 343.7 million tons, according to the World Steel Association.

India, the second-largest producer, increased production by 3.6% in April compared to the same month a year ago to 12.1 million tons and saw an 8.5% rise from January to April, producing 49.5 million tons. Japan, the U.S., and Russia experienced declines of 2%-6%. Despite strong domestic consumption, global steel demand remains weak, affecting Indian steelmakers' earnings due to high imports. India imported 600,000 tons of steel from China in the January-March period, a 60% increase from the same period a year ago.