Steel production growth rate in India hits nearly half of the world’s average during the first six months of 2014; however the nation still remains at the fourth position among the major steel producer in the world.
According to World Steel Association, India has produced about 41.28 million tonnes of steel during the period from January to June, increased by 1.4 pct from 40.72 million tonnes produced in same period of previous year.
Global steel production was at 821.34 million tonnes in the H1 2014 from 801.24 million during the same period of last year, reporting a growth rate of 2.5 pct. China and South Korea stood at top, by reporting a growth rate of 3 pct and 9.1 pct respectively.
But, Japan, Russia, U.S reported a slow growth rate in steel production. U.S and Japan reported 0.9 pct growth in the first half and that of Russia was about 0.7 pct. During the first half, china produced 411.90 million tonnes.
Japan’s steel production stood at 55.22 million tonnes and that of Russia and U.S about 34.82 million tonnes and 43.49 million tonnes respectively. Since 2010 India is in the fourth position among the top steel producers and China, Japan and U.S in the top three positions.
India’s steel production in 2013 was 81.2 million tonnes and in 2012, it was about 77.3 million tones. It has produced about 73.6 million tonnes in 2011 and about 69 million tonnes in the year 2010.