India produced 6.89 million tonnes (MT) steel in
November compared to 6.57 MT in the same month of last year, up by 4.8 per cent
against the world average of 0.1 per cent expansion in the month.
During November, world’s steel output was at 130.52
MT against 130.42 MT a year earlier.
The subdued growth in the world average is mainly
due to lower production by China, the largest producer and consumer of steel in
the world. Steel production in China has declined by 0.2 per cent to 63.30 MT
in the month.
Notwithstanding the growth in production, India
might end up as the world’s fourth largest steelmaker in 2014, like in the past
four years. China, Japan and the US produce more steel than India does.
With 76.19 MT production during January-November
period of current year, India’s position in the world order of steel production
has not changed. China remains the top producer of the metal during the period
at 748.67 MT.
Japan also maintains second position with a
production of 101.66 MT and the US at the third slot with 80.95 MT during the
first 11 months of current year. The sequence remains same for the last four
years as well. During November, Japan produced 9.17 MT steel, the
US 7.2 MT, South Korea 5.91 MT and Russia 5.84 MT.
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