India’s crude steel output falls by 1.3 pct in November

By: |
Published: December 20, 2018 8:28:07 PM

India's crude steel output dipped by 1.3 per cent to 8.49 million tonne (MT) in November, according to the World Steel Association.

crude oil, oil, crudeJapan?s output fell 0.5 per cent to 8.66 MT in the reported month.

India’s crude steel output dipped by 1.3 per cent to 8.49 million tonne (MT) in November, according to the World Steel Association.

The country had produced 8.60 MT of crude steel during the same month a year ago, the global industry body said in its latest report.

In October, India registered a marginal growth in its crude steel output at 8.77 MT.

The country has set an ambitious target of ramping up its production capacity to 300 MT by 2030.

“Crude steel production for the 64 countries reporting to the association was 148.617 MT in November 2018, a 5.8 per cent increase compared to November 2017,” it added.

China’s crude steel production for November 2018 stood at 77.62 MT, an increase of 10.8 per cent compared to 70.024 MT in the year-ago month.

Japan’s output fell 0.5 per cent to 8.66 MT in the reported month.

The US produced 7.42 MT of crude steel, a rise of 11.8 per cent as compared with 6.64 MT in November 2017.

In the European Union, the Association said France produced 1.4 MT crude steel, Italy 2.2 MT and Spain produced 1.3 MT in November 2018.

While Turkey’s crude steel production was at 3.1 MT, Ukraine produced 1.7 MT.

Also read: Brent crude below $55 a barrel as Fed hike heightens demand-growth fears; lowest since September 2017

The World Steel Association members represent about 85 per cent of the world’s steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition