India’s crude steel production grew 8.1 per cent in July compared to the corresponding period a year ago. However, global production too witnessed a marginal growth of 1.4 per cent. India’s output stood at 8.1 million tonnes (mt), while it was 133.7 mt globally, despite not-so-strong demand in the domestic market.
According to a report by the World Steel Association (WSA), China’s output was 66.8 mt (up 2.6 per cent), while Japan produced 8.9 mt, (up 0.5 per cent). The report, which looked at 66 countries, found the global capacity utilisation ratio was stagnant at 68.3 per cent, although there was 3.7 per cent fall on a sequential basis. In the European Union, Germany’s output was 3.4 mt (down 6.1 per cent), while that of the UK was a meagre 0.7 mt (down 27.3 per cent). Meanwhile, output in US was 6.9 mt (down 2.2 per cent).