India is second largest steelmaker, ahead of Japan but behind China

[ni8mare]

China's production for February was 64.9 million tonnes (Mt), while India followed with 8.4 Mt. Japan produced 8.3 Mt, down 0.5 percent.
By : Nithya Nair
Mar 27, 2018 11:50 IST

World Steel Association’s report: India crude steel production risesReuters File

India has overtaken Japan to become the second-largest steelmaker in the world. China remains the world leader, while India held the number three slot for three years till 2017.

According to World Steel Association's crude steel production report, China's production for February was 64.9 million tonnes (Mt), an increase of 5.9 percent from February last year. Japan produced 8.3 Mt of crude steel in February, down 0.5 percent on February last year.

South Korea's crude steel production for February was 5.4 Mt, down 2.1 percent from February last year.

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 131.8 Mt in February -- a 3.5 percent increase when compared last year, the report noted.

In February, India recorded 3.4 percent rise in production to 8.4 Mt, while Japan's recorded negative growth.

Japan produced more than India in all preceding months but the production gap between Japan and India was narrowing in the past few years. Japan produced 104.7 Mt steel in 2017 compared to India's 101.4 Mt. In 2015, India had overtaken the US to become the world's third-largest steel producer.

In the EU, Italy's crude steel production for February was 2.1 Mt, up by 4.5 percent from February 2017. France produced 1.3 Mt and Spain produced 1.1 Mt in February, an increase of 0.4 percent. Turkey's crude steel production was 3 Mt, up by 8.7 percent. The US produced 6.4 Mt, a 0.4 percent increase over February 2017. Brazil's output was 2.7 Mt. Capacity utilization ratio of the world steel industry was 73.3 percent.

The worldsteel is a large industry association in the world and the steel members represent approximately 85 percent of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.

The monthly crude steel capacity utilization ratio is calculated based on crude steel production information available at worldsteel, and OECD (Organisation for Economic Co-operation and Development) capacity estimates.
https://www.ibtimes.co.in/india-second-largest-steelmaker-ahead-japan-behind-china-765071

 

[ni8mare]

India overtook Japan to become world’s second largest steel maker
In 2017, Japan’s production was 104.7 million tonne (mt) and India’s number was 101.4 mt. The gap was wide in 2016 at 9.3 mt, and 16 mt in 2015.
Moneycontrol News@moneycontrolcom

India is second on the list of world’s largest steelmakers, following China. India had been on the third spot for three years till 2017. Japan’s steel output fell by 0.5 percent to 8.2 million tonnes (mt) in February, corresponding to India’s staggering 3.4 percent rise to 8.4 mt steel output, making India supersede Japan, reportedFinancial Express.

India’s rise made its production highest not just in February, but also in the January-February period. All the months preceding January, Japan had been leading. China is way ahead of both the countries in production, but India and Japan have always been within inches of each other in the market.

In 2017, Japan’s production was 104.7 mt and India’s number was 101.4 mt. The gap was wide in 2016 at 9.3 mt, and 16 mt in 2015.


India had grown in its steel production in the year 2017 by almost 6.2 percent, and Japan’s steel industry had slumped. India’s chances of becoming 2nd in the list had been high in 2018.

The Indian government has been very ambitious with its steel production, with it targeting 200 mt annual installed capacity from the 128 mt presently. The consolidation of the Indian steel sector will help strengthen the capacity utilization, synergy improvement and economies of scale.

India took over the USA in 2015 to become the third in the world after a long stay at the fourth position.

According to World Steel Association, China recorded a growth in 5.9 percent, producing 64.9 mt steel in February 2018. In the EU, Italy’s production was 2.1 mt and South Korea produced 5.4 mt. The USA produced 6.4 mt steel in February 2018.

Capacity utilization ratio of the world steel industry was 73.3 percent.

 

[AUSTERLITZ]

But i have been frequently told India can't manufacture anything,it doesn't even have any such heavy industry.

 

[faithfulguy]

India is raising its production just as Trump protectionism is kicking in.

 

[Nilgiri]

India is raising its production just as Trump protectionism is kicking in.

That's fine we dont really export any crude steel anyway. Its consumed domestically.

 

[ashok321]

Crude steel and stainless steel production are 2 different things.

India is nowhere on top when it comes to Stainless steel.
Also steel exports, India is inconsequential.