India Steel Output Hits 7.080 Million Tons in October

World Steel Association said India’s steel production grew at the fastest pace among the top producing nations in October at 8.5 per cent even as world’s average growth remained stagnant.

India produced 7.080 million tonnes steel last month compared to 6.523 mt in the year ago period. On the other hand, production of steel declined during the month in major producing nations such as China, Japan and the US, barring Russia which posted a 1.6 per cent growth in October output compared to the same month last year.

China, the world’s largest producer of steel, reported a 0.3 per cent fall in production. Output fell by 1.7 per cent in Japan and by 0.7 per cent in the US.

China, Japan, the US and India are world’s top four steel producing nations. The order has remained unchanged for quite some years now. These four countries contributed over 91 million tonnes to the world’s total production of 136.7 mt steel during October, which remained flat during the month.

During the first 10 months of the current year, world’s steel production was up by two per cent to 1,367.50 mt. China remained the largest producer during the period at 685.34 MT, Japan 92.49 mt, the US 73.66 mt and India at 69.49 mt.