NEWS

India retains third slot in global steel production in Q1

Wednesday, Apr 22, 2015

India retained its position as the world's third-largest steel producer with a production of 14.6 million tonnes (MT) in the first three months of 2015.

World Steel Association data showed that the country's production grew by 9.4 per cent in January-March quarter this year compared with the first three months last year.

In February, India toppled the US to become the world's third-largest steel producer, after China and Japan.

"India maintains the distinction of being the third-largest steel producer in the world in the first three months of 2015," Steel and Mines Minister Narendra Singh Tomar tweeted after the figures were announced.

In March, the country's crude steel production grew by 10 per cent to 7.2 MT, while the global average declined by 2.7 per cent.

China, which produces half of the world's steel saw a decline of around 2 per cent to clock 203.5 MT in the first three months of the year.

On the other side, world number two Japan saw a fall of 3 per cent to report steel production of 26.74 MT during the January-March period.

Earlier this month, Prime Minister Narendra Modi had said India needs to boost its steel production to surpass China to become the biggest producer in the world, after it overtook the US.

 

economictimes.indiatimes.com

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