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India May steel output growth rate slips below global average
Bucking the trend, India's steel production growth rate in May at just 1.5 percent slipped below the global average of 2.6 percent.
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New Delhi: Bucking the trend, India's steel production growth rate in May at just 1.5 percent slipped below the global average of 2.6 percent.
India's steel output stood at 6.73 million tonnes during the month against 6.63 million tonnes a year earlier, industry body World Steel Association (WSA) said today.
In contrast, global production increased to 136 million tonnes in May 2013 compared to 132.8 million tonnes produced in the same month last year.
In April this year also, India's production growth rate was higher at 3.5 percent compared to world's average of 1.2 percent.
In fact, India's growth rate is better in first months of the current year than the world's average. Steel production in India grew by three percent in India to 33.258 million tonnes between January and May compared to world's average of 2.1 percent to 658 million tonnes, WSA said.
Meanwhile, in May this year, China's production was up by 7.3 percent at 67 million tonnes and Japan's output grew by 4.3 percent to 9.6 million tonnes. However, it fell by 7.1 percent in South Korea to 5.5 million tonnes.
Among the European Union nations, production dipped in Germany by 1.5 percent, Italy (11.1 percent) and France (by 3.5 percent). It also declined in Turkey by two percent to three million tonnes.
Recording just a slight increase, Russia produced 6.1 million tonnes. The US produced 7.5 million tonnes of steel in May 2013, down by 4.9 percent. Brazil produced three million tonnes of steel, up 5.5 percent.
"The crude steel capacity utilisation ratio remained nearly unchanged at 79.6 percent compared to 80 percent in April 2013," WSA said.
PTI
India's steel output stood at 6.73 million tonnes during the month against 6.63 million tonnes a year earlier, industry body World Steel Association (WSA) said today.
In contrast, global production increased to 136 million tonnes in May 2013 compared to 132.8 million tonnes produced in the same month last year.
In April this year also, India's production growth rate was higher at 3.5 percent compared to world's average of 1.2 percent.
In fact, India's growth rate is better in first months of the current year than the world's average. Steel production in India grew by three percent in India to 33.258 million tonnes between January and May compared to world's average of 2.1 percent to 658 million tonnes, WSA said.
Meanwhile, in May this year, China's production was up by 7.3 percent at 67 million tonnes and Japan's output grew by 4.3 percent to 9.6 million tonnes. However, it fell by 7.1 percent in South Korea to 5.5 million tonnes.
Among the European Union nations, production dipped in Germany by 1.5 percent, Italy (11.1 percent) and France (by 3.5 percent). It also declined in Turkey by two percent to three million tonnes.
Recording just a slight increase, Russia produced 6.1 million tonnes. The US produced 7.5 million tonnes of steel in May 2013, down by 4.9 percent. Brazil produced three million tonnes of steel, up 5.5 percent.
"The crude steel capacity utilisation ratio remained nearly unchanged at 79.6 percent compared to 80 percent in April 2013," WSA said.
PTI
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