Global steel production grew by 5.1 percent in November to 121.6 million tonnes (MT) in which India's contribution was 6.4 MT. World steel output was 115.8 MT in November 2011, industry body World Steel Association (WSA) said on Thursday.

 

India's production increased by 6.6 percent during the reporting month compared to the same month last year. India had produced 6 MT steel in November, 2011. China, which roughly produces half of the global steel, was the highest producer of steel in November this year, as well, with 57.5 MT production. This is an increase of 13.7 percent over the same month in 2011.

 

Among the Asian nations, Japan produced 8.5 MT; South Korea- 5.6 MT during the month among others. Almost all the European Nation members produced less steel in November than in the same month last year. Germany produced 3.4 MT, a slight dip of 0.2 percent. Italy's production was down by 12.9 percent to 2.2 MT, France's output was 1.3 MT and Spain produced 1 MT, down 14.2 per cent over November 2011. Turkey's steel production stood at 3 MT, an increase of 4.6 percent compared to November 2011. Russia produced 5.5 MT and Ukraine's output stood at 2.7 MT, down 7.9 percent.

 

Production in the US dipped by 4.8 percent to 6.7 MT in November 2012. Brazil's crude steel production was 2.8 MT, an increase of 2.4 percent. "The crude steel capacity utilisation ratio in November 2012 declined to 76.1 percent from 76.5 percent in October 2012," WSA said.

 

Source-Moneycontrol.com