Global steel production up 1.3% to 126 MT in October

Global steel production up 1.3% to 126 MT in October New Delhi: Helped by six percent rise in production in China, global steel output increased by 1.3 percent to 126 million tonnes (MT) in the last month.

The world's steel production in October last year stood at 124.55 MT, the data by World Steel Association showed.

China, as usual, was the biggest producer of steel during the month at 59.1 MT, up by six percent compared to October 2011.

India's production grew by 5.7 percent to 6.5 MT from 6.1 MT a year ago. Japan produced 8.8 MT, a dip of 6.7 percent.

In the EU, Germany produced 3.7 MT, a slight increase of 0.3 percent over October 2011. Italy's production was 2.4 MT, down by 10.4 percent. France produced 1.3 MT, Spain, 1.1 MT.

The US produced 6.9 MT steel in October 2012, a 3.3 percent dip against the same month last year. Brazil's production was 3.2 MT, an increase of 7.7 percent against October 2011.

"The crude steel capacity utilisation ratio in October 2012 declined to 76.5 percent from 77.7 percent in September," WSA said.