India’s weak economy has led to sluggish steel production. Steel output has increased slightly by 2.8 per cent in Jan-Oct period of 2013. However, the country remains in the fourth position in steel production globally.
World Steel Association (WSA) in its recent data showed India’s steel output in first ten months of 2013 was about 66.39 MnT. While the steel production in the same period last year was 64.56 MnT. In addition, the growth increase rate in 2012 was about 5.6per cent more than 61.08 MnT of 2011.
China with its steel output remains much ahead than its competing countries to keep a hold of its position. Second largest position of Japan is likely to maintain with its 90 MnT production in the period under review. The US with its production of 73 MnT is in its third position. Russia comes in fifth after India is a very close competitor with its output about only 10 MnT less than that of India.