India has emerged as the third-largest steel producer in the world after China and Japan, beating the US to the fourth position. However, there is little reason to cheer as steel production in India rose 2.6% in 2015 to 89.6 million tonne (MT), even as world steel output went down 2.8% to 1.6 billion tonne, according to data released by the Brussels-based World Steel Association (WSA), whose members present 85% of world steel production.
Almost all steel producing regions reported lower output led by China, which produces more than half of total world steel output.
