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Steel News December 22, 2014 07:18:52 AM

Steel production in India outpaces world average growth in steel production.

Paul Ploumis
ScrapMonster Author
The rate of steel production in India, has increased to 4.8 percent in the month of November, outrunning the average growth of steel production in the world, for the month of November, which is noted as .1 percent.

Steel production in India outpaces world average growth in steel production.

LONDON (Scrap Monster): During the month of November, the country had produced about 6.89 million tonnes of iron ore, which is higher compared to the 6.57 million tonnes of iron ore in the same month of the previous year.  According to the data published by the World Steel Association, the country has been able to maintain the position of the world’s fourth largest steel producing country for the year 2014. India’s domestic production of iron ore for the last 11 months of the year is noted as 76.19 million tonnes.

China, Japan and US are ahead of the country in the case of steel production in the world. The World Steel Association, stated that, the world steel output for the year, till the month of November is 130.52 million tonnes, whereas in the last year, according to the association’s report, the world steel production for the first 11 months was, 130.42 million tonnes. The main reason for the slower growth in production, is the lower pace in the  production of steel in China. China is noted to be the biggest producer as well as the biggest consumer of steel in the world. WSA, is a global body which collects the data of steel production from 65 countries, who contributes to about 98 percent of steel to the world.

In the month of November this year, the steel production in China declined 0.2 percent reaching 63.13 million tonnes. During  the month of November, this year, Japan produced 9.17 million tonnes of steel, and  the US produced  about 7.12 million tonnes of steel, South Korea produced 5.91 tonnes of steel, whereas Russia produced 5.84 tonnes of steel.  China still remains to be the top of the list producing about 784.67 million tonnes of steel, this year, followed by Japan producing about 101 million tonnes of steel, and US in the third position producing about 84.70 tonnes of steel.

From the collected from the European Union, in the month of November, Germany produced 33.6 million tonnes of steel, which is 1.9 percent lower than the steel production of the country in the same month last year. Italy produced about 1.9 million tonnes of steel, 13.9 percent lowe than last year.

 

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