India's crude steel output rises 0.9 pc to 9 MT in Oct: worldsteel

According to the World Steel Association (Worldsteel), India's crude steel output increased by 0.9% to reach 9,058 million tonnes (MT) in October 2020.

In October 2019, India produced 8,981 MT of crude steel, the global industry organisation said in its latest report.

In October 2020, crude steel production was 161,890 MT for the 64 countries reporting to world steel, a 7% increase compared to 151,248 MT in October 2019.

Worldsteel said, "Due to the ongoing challenges driven by the COVID-19 pandemic, many of this month figures are estimates that may be revised with next month production’s update."

China recorded a 12.7% year-on-year increase in steel production to 92,202 MT in October 2020, compared to 81,781 MT in the same period last year according to world steel data.

In October 2020, US output stood at 6,143 MT of crude steel, down 15.3% from 7,250 MT.

Japan's output decreased by 11.7% from 8,150 MT a year ago to 7,200 MT of crude steel.

For the month under review, South Korea's steel production decreased by 1.8% to 5,859 MT, compared to 5,964 MT in the year-ago period.

The production of crude steel from Germany increased by 3.1% to 3,417 MT as compared to 3,315 MT.

In October 2020, Italy's crude steel production was 2.119 MT, down 4.6% from 2.222 MT a year ago.

In October 2020, France produced 1,065 MT of crude steel, a 9.9% decrease from the same period last year. Steel production in Spain stood at 1,113 MT, a 7.7% drop y-o-y.

Worldsteel said, "Brazil produced 2.784 MT of crude steel in October 2020, up by 3.5% from October 2019. Turkey crude steel production for October 2020 was at 3.208 MT, increased by 19.4% from October 2019."

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