India's Steel Production Up 1.4% at 41.28 Million Tonnes

India's steel production grew at nearly half the world's average in the first six months of this year, but the country still maintains the fourth position among top steel producers.

From January-June, India produced 41.28 million tonne steel, up 1.4 per cent over 40.72 MT in the year-ago period, as per the World Steel Association data.

In comparison, global production of the alloy stood at 821.34 MT in the first half of 2014, over 801.23 MT during H1 of last year, clocking a growth of 2.5 per cent.

Among major steel producing countries, China and South Korea were ahead of India in growth rate at 3 per cent and 9.1 per cent respectively.

However, Japan, US and Russia were behind. While both US and Japan clocked 0.9 per cent growth in the first six months; Russia's growth was little less at 0.7 per cent.

China produced 411.90 MT steel, Japan 55.22 MT, US 43.49 MT and Russia 34.82 MT.

As per the current standing, India's position remains same at the fourth place. In fact, India's position in world's steel production remained unchanged at the fourth slot for the last four years since 2010.

There was no change in the order of top three steel producing nations with China, Japan and the US retaining their slots in the respective order in 2013.

India produced 81.2 MT in 2013, 77.3 MT 2012, 73.6 MT in 2011 and 69 MT in 2010.