India's steel production grows 8.5% in September

Kolkata: India’s steel production grew 8.5% to 7.8 million tonne (mt) in September 2016 compared to 7.2 mt in September 2015 even as Asia’s steel output went up 3.7% to 92.5 mt during September over the same month last year.

Out of this, China’s crude steel production for September 2016 was 68.2 mt, an increase of 3.9% compared to September 2015. Elsewhere in Asia, Japan produced 8.4 mt of crude steel in September 2016, a decrease of -1.5% compared to September 2015.

South Korea’s crude steel production was 5.7 mt in September 2016, up by 1.1% on September 2015. Brazil’s crude steel production for September 2016 was 2.6 mt, up by 3.1% on September 2015.

According to data from 66 countries reporting to the Brussels-based World Steel Association (worldsteel), world crude steel production grew by 2% in September 2016 at 132.9 mt compared to September 2015.

In the first nine months of 2016, India produced 71 mt of steel growing 5.9% over the same period last year. while Asia produced 825.9 mt of crude steel, an increase of 0.6% over the first three quarters of 2015, according to worldsteel.

The European Union (EU) produced 121.3 mt of crude steel during the first nine months of 2016, down by 4.8% compared to the same period in 2015.

North America’s crude steel production in the first nine months of 2016 was 83.9 mt, a decrease of 1.4% compared to the first three quarters of 2015.

The crude steel capacity utilisation ratio of the 66 countries in September 2016 was 70%, a marginal improvement over the utilization ration of 69.5% in September 2015. The September 2016 capacity utilisation ratio is 1.5 percentage points higher than the August 2016 ratio.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.