India’s steel output falls for second straight month

steel output
MARGINAL DIP: Production falls by 2.8 per cent in November 2019 to 8.934 million tonne (MT) from 9.192 MT same moth last year.

New Delhi: India’s crude steel output fell for the second straight month in November, declining 2.8 per cent to 8.934 million tonne (MT), according to a report. During November 2018, the country’s crude steel output stood at 9.192 MT, World Steel Association (worldsteel) said in its latest report.

In October 2019, India had reported a 3.4 per cent fall in crude steel output at 9.089 MT as against 9.408 MT in the year-ago month, according to the global body. Global steel production also registered a 1 per cent fall at 147.791 MT in November 2019 as compared with 149.356 MT in November 2018, the report said. However, world’s largest steel producer China registered increase in production.

The country produced 80.287 MT steel in November, up 4 per cent as compared to 77.213 MT a year ago. Japan’s crude steel production fell 10.6 per cent to 7.743 MT as against 8.659 MT in November 2018. The US produced 7.233 MT of crude steel in November 2019, a decrease of 2.2 per cent as compared to 7.399 MT in the same month last year.

South Korea’s crude steel production stood at 5.895 MT in November, 0.5 per cent lower against 5.923 MT in November 2018. In the EU, Italy produced 2.0 MT of crude steel in November, while France and Spain produced 1.1 MT each. Brazil produced 2.6 MT crude steel in November, while Turkey and Ukraine produced 2.9 MT and 1.3 MT, respectively, last month.

Members of worldsteel represent approximately 85 per cent of the world’s steel production, including over 160 steel producers, national and regional steel industry associations, and steel research institutes. JSW Steel Chairman and Managing Director (CMD) Sajjan Jindal is its vice chairman, while Tata Steel CEO and MD T V Narendran and ArcelorMittal Chief L N Mittal are among its members.

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