In Commodity News 26/05/2015
Even as steel production is on the decline globally, owing primarily to falling Chinese output, India remains the only exception among the major producing nations. According to World Steel Association’s recent data, India’s steel production grew by an impressive 6.7 per cent in the first four months of the current year vis-à-vis a decline of 1.3 per cent in China, the highest producer by a wide margin and 1.7 per cent, globally.
India, now the world’s third largest producer, produced 29.97 MT steel during the January-April period of the current year compared to 28.09 MT in the same period a year ago.
China’s production fell to 270 MT from 274 MT a year earlier. Output in Japan fell by 3.7 per cent to 35 MT during the period. Production in the US also dipped by 8.5 per cent to 26.3 MT in the period. Global production came down to 536 MT in January-April from 546 MT a year ago.
In April also, India’s steel production growth remained in the positive terrain while decline in output in all other major producing nations.
Source: Financial Express
