India’s January Crude Steel Output Up 2.5% To 9 Million Tonne
India's crude steel production grew 2.5 percent to 9.02 million tonne in January 2018 compared to 8.81 million tonne in the year-ago month, a report by World Steel Association said.
World leader China saw a marginal fall of 0.9 percent in crude steel production in January this year at 67 million tonne. It had produced 67.58 million tonne during the same month last year.
Also Read: China Says It May Hit Back If U.S. Imposes Tariffs on Steel
Japan, the second largest steel producer, saw almost flat output of 9.03 million tonne.
India and Japan have produced almost same amount of crude steel, the figures show. India, which overtook the U.S. to become the world's third largest steel producer, is now looking to bag the second spot from Japan Global crude steel production of the 64 countries reporting to the World Steel Association (worldsteel) was 139.43 million tonne in January 2018, a growth of 0.8 percent year-on-year.
Also Read: Five Reasons HSBC Finds Indian Steel Stocks Attractive
France produced 1.4 million tonne, Spain produced 1.1 million tonne, Turkey 3.2 million tonne, the U.S. 6.8 million tonne and Brazil 2.9 million tonne.
The crude steel capacity utilisation ratio of the 64 countries in January 2018 was 70 percent. This is 0.2 percentage points lower than January 2017. Compared to December 2017, it is 0.7 percentage points higher.World Steel Association
The World Steel Association is one of the largest and most dynamic industry associations in the world. Its members represent approximately 85 percent of the world's steel production.
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