Domestic steel production shows 12% growth over January 2017
Domestic steel production went up to 8.4 million tonne (mt) in January 2017, showing a 12% growth over January 2016 when the country had reported crude steel production of 7.5 mt. India’s growth trend spurred by protecionist measures taken by the government against threat of cheaper imports, was in fact higher than the overall 7% increase in world crude steel production to 136.5 million mt in January 2017 compared to January 2016.
Out of the total global output, China which accounts for more than half of global steel output, saw a 7.4% increase in crude steel production for January 2017 at 67.2 mt, compared to January 2016, according to latest data released by the Brussels–based World Steel Association. The high percentage figure was attributed to the fact that January 2016 saw a marked dip in Chinese steel production. Among its Asian peers, Japan produced 9 mt of crude steel in January 2017, an increase of 2.7% compared to January 2016.
The crude steel capacity utilisation ratio of the 67 countries reporting to the World Steel Association 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.
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 4.2% compared to January 2016.
In January 2017, Russia produced 6.2 mt of crude steel, up by 11.6% over January 2016. Ukraine produced 2.1 mt of crude steel, up by 8.5% compared to the same month in 2016. The US produced 6.9 mt of crude steel in January 2017, an increase of 6.5% compared to January 2016. In South America, Brazil’s crude steel production for January 2017 was 2.9 mt up.
Source: Economic Times
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