India lone country shining in steel sector
Steel output grows 6% to 10MT in June as against 9.4MT in previous corresponding qtr
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• China produced 90.7 MT steel in June 2022, down 3.3% over its 93.9 MT output in June 2021
• Production US fell by 4.2% to 6.9 MT last month from 7.1 MT in the same month of 2021
• Russia is estimated to have produced 5 MT, down 22.2% over 6.4 MT a year ago
New Delhi: India's crude steel production rose over 6 per cent year-on-year to 10 million tonnes in June 2022, according World Steel Association.
As per the World Steel Association (worldsteel) data, India is the only country which has registered a positive growth in its steel output during June. The country had produced 9.4 million tonnes (MT) crude steel during the same month last year, the global industry body said in its latest report. India is world's second largest producer of crude steel after China which produced 90.7 MT in June 2022, down 3.3 per cent over its 93.9 MT production in June 2021. The production in the United States fell by 4.2 per cent to 6.9 MT last month from 7.1 MT in the same month of 2021.
Russia - which has been engaged in a conflict with Ukraine - is estimated to have produced 5 MT, down 22.2 per cent over 6.4 MT a year ago. Russia has registered the highest fall among top 10 steel producers. While South Korea registered a 6 per cent fall to 5.6 MT, Germany produced 3.2 MT, down 7 per cent year-on-year. In June 2022, Turkey produced 2.9 MT crude steel, down 13.1 per cent, and Brazil is estimated to have produced 2.9 MT, registering a fall of 6.1 per cent. Iran is estimated to have produced 2.2 MT, down 10.8 per cent. Brussels-headquartered worldsteel having members in every major steel-producing country, represents steel producers, national and regional steel industry associations, and steel research institutes. Worldsteel members represent around 85 per cent of global steel production.
