India’s steel production up by 2.6% amid global decline
While global crude steel production declined by 2.8% in 2015, for the first time since 2009, India’s steel output increased by 2.6% to 89.6 million tonnes during the year, according to World Steel Association report.
“India’s crude steel production for 2015 was 89.6 million tonnes, up by 2.6% on 2014. China’s crude steel production in 2015 reached 803.8 million tonnes, down by -2.3% on 2014,” the report said.
Crude steel output of China, the world’s largest steel producer and consumer, declined by 2.3% to 803.8 million tonnes last year from 2014.
India remained the only country among major steel producers including China, Japan, South Korea and the US that registered a positive trend in steel production and consumption last year.
In 2015, India also became the third largest producer of crude steel with a share of 5.5% of the world’s total production, only behind Japan’s 6.5% and China’s 49.5%.
The total production of the metal in Asia also fell by 2.3% to 1,113.8 million tonnes in 2015 as compared to that in 2014.
In 2015, the EU produced 166.2 million tonnes of crude steel, 1.8% less as compared to 2014, while the total production of the metal in North America was 110.7 million tonnes, down 8.6%.
World’s total crude steel production remained at 126.7 million tonnes in December last year, down 5.7% from the corresponding month of 2014.
January 27, 2016 | 04:40pm IST
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