India's crude Steel production up


India's crude Steel output increased 7.1% to 33.159 million tonnes in the first four months of 2017, as against 30.963 million tonnes in the year-ago period, according to global industry body Worldsteel.

China, the world's largest producer of the metal, saw a 4.6% rise in production at 273.870 million tonnes. While the second largest producer Japan witnessed 1.9% growth at 34.982 million tonnes during the January-April period this year, the Association said.

In April, India produced 8.065 million tonnes crude Steel, registering a growth of 4.8% against 7.694 million tonnes in the same month a year ago.

China's crude Steel production rose by 4.9% at 72.8 million tonnes in April this year compared to 69.30 million tonnes in the year- ago month.

Japan's output stood at 8.75 million tonnes in April this year as compared to 8.5 million tonnes in the corresponding month a year earlier.

In April 2017, global crude Steel production for the 67 countries (reporting to the global steel industry body) was at 142.1 million tonnes, up 5%, compared to 135.3 million tonnes in the same period a year ago.

The crude steel capacity utilisation ratio of the 67 countries in April 2017 was 73.6%. This is 2.5 percentage points higher than April 2016. Compared to March 2017, it is 1.7 percentage points higher, it said.

The government launched the National Steel policy to raise India's production capacity to 300 million tonnes by 2030-31.

Source- Commodity Online

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