India's Steel Output Outpaces World Average of 0.1% Growth in November
Introduction
India's steel production grew at 4.8% in November outpacing the world average of 0.1% growth in November. During the month, India produced 6.89 million tonne (mt) of steel compared to 6.57 mt in the same month, last year.
With domestic production touching 76.19 mt during the first eleven months of calendar year (January-November 2014), India maintained its position as the world's fourth largest steelmaker in 2014, like in the last four years, according to data released by Brussels-based World Steel Association (WSA).
China, Japan and the US were ahead of it in global rankings as the world's largest steel producers.
The WSA, a top global body that collates data from 65 countries which accounted for 98% of global steel in 2013, said world steel output touched 130.52 mt in November this year against 130.42 mt a year earlier.Lower production in China was mainly responsible for the subdued growth in the world average growth rate of steel, which is the largest producer and consumer of steel in the world.
Steel production in China declined by 0.2% to 63.3 mt in November this year, compared to the same month last year.
During November, Japan produced 9.17 mt steel, the US 7.2 mt, South Korea 5.91 mt and Russia 5.84 mt. China remains the top producer of the metal during the period at 748.67 mt.Japan also maintains second position with a production of 101.66 mt and the US at the third slot with 80.95 mt during the first 11 months of the current year.
In the European Union, Germany produced 3.6 mt of crude steel in November 2014, a decrease of 1.9% compared to November 2013. Italy produced 1.9 mt of crude steel, down by 13.9% on November 2013.
France's crude steel production was 1.4 mt, an increase of 5.8% compared to November 2013. In November 2014, Russia produced 5.8 mt of crude steel, up by 5.8% over November 2013.However, Ukraine saw a significant decline in crude steel production by 28.6% to 1.8 mt, compared to the same month in 2013.
Source
India Brand Equity Foundation, December 23, 2014
