India remained the only exception among the top four steel producing nations to report positive growth in production in the first six months...
India remained the only exception among the top four steel producing nations to report positive growth in production in the first six months of current year. While production in India grew by 4.2% compared to the same period last year, global output declined by an average of 2% during the January-June period of 2015.
Data compiled by World Steel Association (WSA), a premier global industry body, India’s production during the January-June period of the current year stood at 44.95 MT compared to 43.13 MT during the year-ago period. Global production fell to 813 MT during the period from 829.93 MT a year earlier.
The fall in global production is mainly due to decline in output by China, Japan and the United States. Production in China fell to 409.97 MT compared to 415.37 MT, recording a decline of 1.3%, even though China produced a little more than half of global steel output during the period.
Production declined by 4.7% and 8.6% in Japan and the US respectively to 55.23 MT and 39.85 MT during the January-June period of the current year compared to a year ago.
With this, India remained at the third position in the world order of steel production in the first half of the current year. India, which has been at the fourth position for four years in a row, grabbed the third position in February this year overtaking the US.