Global steel production declined for the fourth consecutive month in September to 144.4 million metric tonnes from 154.4mmt the previous month. Meanwhile, output declined by 8.9pc on a year-over-year basis, according to a World Steel Association report. Top producer China saw its output fall from 83.2 million metric tons to 73.8 million metric tons in September. The China Iron and Steel Association (CISA) viewed the sector’s third-quarter performance on Monday. CISA said that the steel industry has actively responded to changes in domestic and international demand and made efforts to overcome difficulties such as high raw and fuel material prices and rising pressure on ‘double carbon’ environmental protection. It said the overall operation trend in the first three quarters was good, making outstanding contributions to meeting the steel demand of downstream industries and ensuring the sustainable recovery of the national economy. However, it also faces challenges such as a more complex market environment and difficulty in reducing costs and increasing efficiency. India, the second-largest steel producer, churned out 9.5 million metric tons amid a coal crisis of its own. The total marked a 7.2pc year-over-year increase. However, output declined from August’s 9.9 million metric tons. Meanwhile, Japanese output reached 8.1 million metric tons, or up 25.6pc year over year, while the European Union production totalled 12.7 million metric tons, or up 15.6pc year over year. On the other hand, the US and EU have reached a deal to end a long-standing dispute over steel and aluminium tariffs set by former US President Donald Trump, European Commission President Ursula von der Leyen announced at the G20 Summit in Rome. “Pleased to announce that US President Joe Biden and I have reached an agreement to suspend tariffs on steel and aluminum and work together on a new global agreement on steel,” the official wrote on Twitter on Sunday. According to US Commerce Secretary Gina Raimondo, the new agreement will allow “a limited amount of steel and aluminium from the EU to be imported into the US duty-free, while maintaining tariffs of 25pc on steel and 10pc on aluminium for some imports. Officials did not specify the volume of duty-free metals to be allowed into the US under the new deal, but Reuters sources claimed that annual volumes below 3.3 million tons would be freed from tariffs.