India produced 8.4 million tonne steel in the month of January 2017 registering a growth of 12% as against the same period of last year, World Steel Association data show. With this, India was one of the top major steel producer in the world beating China who grew by 7.4%.

Although, China's January 2017 steel production stood at 67.2 MT as against 62.5 MT in the same month of last year.

World Steel Association (WSA) comprises of 67 steel producing nations of the world.

It said, "China’s crude steel production for January 2017 was 67.2 Mt, an increase of 7.4% compared to January 2016, an apparently high percentage figure explained by the fact that January 2016 saw a marked dip in Chinese steel production. Japan produced 9 Mt of crude steel in January 2017, an increase of 2.7% compared to January 2016."

US produced 6.9 MT of steel growing at 6.5% while steel production that of Russia in January stood at 6.2 MT, up 11.6% over January 2016.

WSA said, "In the EU, Germany produced 3.6 MT of crude steel in January 2017, an increase of 1.2% compared to January 2016. Italy produced 1.8 MT of crude steel, up by 0.3% on January 2016. Spain produced 1.2 MT of crude steel, down by -4.2% compared to January 2016. Turkey’s crude steel production for January 2017 was 2.9 MT, up by 12.8% on January 2016."

It concluded, "The crude steel capacity utilisation ratio of the 67 countries in January 2017 was 68.5%. This is 3.4 percentage points higher than in January 2016. Compared to December 2016, it is 0.9 percentage point higher."

 

Source:zeebiz.com

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