The country's crude steel output rose 7.1 per cent to 33.159 million tonnes in the first four months of 2017, as against 30.963 MT in the year-ago period, according to global industry body Worldsteel.
The country’s crude steel output rose 7.1 per cent to 33.159 million tonnes (MT) in the first four months of 2017, as against 30.963 MT in the year-ago period, according to global industry body Worldsteel. China, the world’s largest producer of the metal, saw a 4.6 per cent rise in production at 273.870 MT. While the second largest producer Japan witnessed 1.9 per cent growth at 34.982 MT during the January-April period this year, the latest report of World Steel Association (Worldsteel) said.
India has become the second largest producer of stainless steel in 2016 leaving Japan behind, and the country is now heading towards becoming the second largest steel producer in the world, Steel Minister Chaudhary Birender Singh said yesterday.
In April, India produced 8.065 MT crude steel, registering a growth of 4.8 per cent against 7.694 MT in the same month a year ago. China’s crude steel production rose by 4.9 per cent at 72.8 MT in April this year compared to 69.30 MT in the year- ago month. Japan’s output stood at 8.75 MT in April this year as compared to 8.5 MT in the corresponding month a year earlier.
In April 2017, global crude steel production for the 67 countries (reporting to the global steel industry body) was at 142.1 MT, up 5 per cent, compared to 135.3 MT in the same period a year ago. The US produced 6.7 MT of crude steel in April 2017, an increase of 1.8 per cent compared to the same month a year ago. Brazil’s crude steel production stood at 2.9 MT.
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In the European Union, Germany produced 3.9 MT of crude steel in April 2017, an increase of 8.1 per cent from a year ago, while that of Italy stood at 2.0 MT, France 1.3 MT and Spain at 1.2 MT.
Turkey’s crude steel production for April this year stood at 3 MT, up by 6.5 per cent as compared to the year ago month. “The crude steel capacity utilisation ratio of the 67 countries in April 2017 was 73.6 per cent. This is 2.5 percentage points higher than April 2016. Compared to March 2017, it is 1.7 percentage points higher,” it said.
The government launched the National Steel policy to raise India’s production capacity to 300 MT by 2030-31.