The World Steel Association reported that global crude steel production fell 5.9% in October 2025 to 143.3 million metric tons compared to October 2024, marking the industry's sharpest monthly contraction in nearly two years. China's output plummeted 12.1% to 72.0 million metric tons, reflecting government policies targeting overcapacity & environmental compliance. Conversely, India surged 5.9% to 13.6 million metric tons while the United States jumped 9.4% to 7.0 million metric tons, demonstrating robust growth in emerging & developed markets respectively. The data reveals fundamental geographic rebalancing within the global steel industry.