Informist, Tuesday, Sep 24, 2024

MUMBAI – Production of crude steel in India rose 2.6% on year to 12.3 mln tn in August, according to data from the World Steel Association. During the month, the country accounted for over 8% of global steel output.

Globally, crude steel output fell 6.5% on year to 144.8 mln tn last month because of a sharp decline in output in China, Iran, Japan, Russia, and South Korea. For Jan-Aug, global crude steel production was down 1.5% at 1.25 bln tn, while output in India jumped 6.5% to 98.5 mln tn.

Among the top 10 steel producers, Brazil, Germany, India, Turkiye, and the US reported growth in output in August. In China, the world's largest producer, crude steel output tumbled 10.4% on year to 77.9 mln tn last month. For Jan-Aug, the country's output declined 3.3% on year to 691.4 mln tn, accounting for over 55% of global production.

In Japan, crude steel output was down 3.9% on year at 6.9 mln tn. Production in South Korea fell 2.2% to 5.5 mln tn in August. The US produced 7.0 mln tn of steel last month, up 0.7% on year, while output in Turkiye climbed 13.8% to 3.1 mln tn.

Steel production in Germany rose 0.5% to 2.9 mln tn in August. Crude steel production in Russia is estimated to have tumbled 11.5% on year to 5.8 mln tn. Overall production in Brazil soared 7.3% to 3.0 mln tn, while output in Iran plunged 9.9% to 1.4 mln tn last month. End

Reported by Sandeep Sinha

Edited by Aditya Sakorkar

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