India’s January crude steel output at 9MT

Source: FINANCIAL EXPRESS

India’s crude steel production grew 2.5% to 9.02 million tonne (MT) in January 2018 compared to 8.81MT in the year-ago month, a report by World Steel Association said.

World leader China saw a marginal fall of 0.9% in crude steel production in January this year at 67MT. It had produced 67.58MT during the same month last year. Japan, the second largest steel producer, saw almost flat output of 9.03MT. India and Japan have produced almost same amount of crude steel, the figures show.

India, which overtook the US 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 139.43MT in January 2018, a growth of 0.8% year-on-year.

France produced 1.4MT, Spain (1.1MT), Turkey (3.2MT), the US (6.8MT), Brazil (2.9MT). “The crude steel capacity utilisation ratio of the 64 countries in January 2018 was 70 per cent. This is 0.2 percentage points lower than January 2017. Compared to December 2017, it is 0.7 percentage points higher,” worldsteel said.

The World Steel Association is one of the largest and most dynamic industry associations in the world. Its members represent approximately 85% of the world’s steel production.

Source: FINANCIAL EXPRESS