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Sept steel output drops in major nations; India logs rise

World’s steel production fell for
the first time in eight months in September primarily due to sluggish output in
all major producing nations, barring India.

According to World Steel
Association, global production in September fell by 0.1% to 134.4 million tonnes
(MT) compared to 134.5 MT in the same month last year.

The dip in
production was mainly due to stagnant output in world’s largest producing
nation, China. The country, which produces almost half of world’s steel,
produced 67.5 MT steel in September like in the corresponding month last
year.

China, Japan, US and India are the leading producers of steel in
the world. In September, production in Japan fell by 0.5% and it dipped by 0.1%
in the US.

India was the only exception among the top four producing
nations. Production in world’s fourth largest steel producer grew by 2.5% during
the month to 6.8 MT compared to 6.6 MT in the same month last
year.

World’s steel production had declined by 0.4% in January this year
over the same month last year due to a dip in Chinese production. Output in
China had fallen by 3.2% in January this year.

WSA said crude steel
capacity utilisation ratio during the month was 76.1%, which is 2.6 percentage
points lower than September 2013.

business-standard

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