Steel production falls 2.4% to 14.3 MT in January-February

By: | Published: March 23, 2016 12:10 AM

During the whole of 2015, India’s steel production posted a positive growth of 2.6% to stand at 89.6 MT, even as there was a 2.8% decline in the average world output to 1,622 MT

India’s steel production fell in the first two months of 2016, but at a rate much lower than the decline in global output, World Steel Association (WSA) data revealed.

In the first two months of the current year, India’s steel production fell by 2.4% to 14.3 million tonne (MT), from 14.7 MT during the corresponding period a year ago. The fall in production in February has been steeper at 3.6%. In January, it was down by 1.2%. India produced 6.9 MT in January and 7.4 MT in February of the current year.

Global steel production fell by an average of 5.2% during the January-February period of the current year to stand at 247 MT. The fall in production was down by 3.3 % in February to stand at 120.4 MT, compared with 124.5 MT production in February last year.

During the whole of 2015, India’s steel production posted a positive growth of 2.6% to stand at 89.6 MT, even as there was a 2.8% decline in the average output of the alloy to 1,622 MT, compared with 1,670 MT in 2014.

However, not just in India, production also declined in the range between 6.7% and 0.1% in other major steel-producing nations cumulatively in January and February of the current year. Russia witnessed the biggest fall at 6.7%, followed by China, the largest producer and consumer of the alloy, at 5.7%. Production fell in Japan by 1.9%, 4.6% in the US and 0.1% in South Korea.

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China’s production for February was 58.5 MT, a decrease of 4% compared with the same month last year. Japan produced 8.4 MT of crude steel, a decrease of 1% over the same month in 2015.

In the EU, Germany produced 3.4 MT, a fall of 4.3%. Italy’s production was at 1.9 MT, down by 2.1%. However, France improved its tally in February 2015 by 2.6% to 1.3 MT. Turkey’s production was also up by 4% to stand at 2.4 MT.

Steel output in Russia also feel by 2.7% in February this year to stand at 5.7 MT. The US produced 6.4 MT of steel, an increase of 2.9% compared with the same month last year. Production in Brazil was down by 8.7% to 2.4 MT.

“The crude steel capacity utilisation ratio in February 2016 was 66.2%,” WSA said.

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