India will remain the world’s fourth largest steel maker this year even as its production growth outpaced the global average in the first 11 months, World Steel Association (WSA) data showed.
India has produced 76.19 million tonnes (MT) steel in the January-November period compared to 74.37 MT during the same period last year, clocking 2.4 per cent growth and positioned itself again at the fourth slot.
Global steel production during the period grew by 1.8 per cent to 1,497.75 MT, compared to 1,471.44 MT in the same period last year.
Despite dip in production in some previous months, China has been world’s top steel producer in the first eleven months of current year, with output of around 650 MT.
Japan produced 101.66 MT during the 11 months, clocking a 0.4 per cent growth over 101.25 MT in the year-ago period.
Production in the US grew by 1.5 per cent in the first 11 months of the year grew to 80.95 MT from 79.75 MT a year ago. Though the gap in production between India and the US is not wide as of now, that is unlikely to change the order as the US produced more steel even in November.
“India may topple the US next year as a lot of capacity is being added here, and a good part of that is coming on stream in the next couple of months, from around 101 MT now,” according to an industry official.
The ranking among the top four steel producers remain the same for the last four years.
India produced 6.89 million tonnes (MT) steel in November compared to 6.57 MT a year ago. During the month, world’s steel output was 130.52 MT, as against 130.42 MT a year earlier. Steel production in China declined yet again during the month by 0.2 per cent to 63.30 MT.
During November, Japan produced 9.17 MT steel, the US 7.2 MT, South Korea 5.91 MT and Russia 5.84 MT. P