India produces 7.25 MT steel in March: WSA

Tags: India, Steel, WSA, Industry
India, the world's fourth largest steel maker, produced 7.25 million tonnes (MT) or just over five per cent of the total global output in March, according to World Steel Association (WSA).

The country, however, beat world's average production growth rate in March. While India clocked a 3.9 per cent growth rate in production, world's average growth rate was at 2.7 per cent.

Global steel production in March stood at 141 MT, said WSA, a leading global industry body in its monthly report.

India had produced 6.98 MT steel in March last year.

China produced nearly half of the global steel production at 70.3 MT in March, up by 2.2 per cent compared to the same month last year. Japan's production stood at 9.7 MT and South Korea's production was 6.1 MT.

Among the European Union nations, Germany produced 4 MT of steel in March 2014, Italy produced 2.4 MT, France 1.4 MT and Spain produced 1.3 MT.

Turkey's crude steel production was 2.8 MT, down by 4.3 per cent. Russia produced 6.0 MT, clocking an increase of 1.3 per cent and Ukraine's production was 2.7 MT.

The US produced 7.4 MT in March 2014, up by 0.9 per cent compared to March 2013.

"The crude steel capacity utilisation ratio in March 2014 was 79 per cent," WSA said.

EDITORIAL OF THE DAY

  • Realtors must lower the ratio of capital value to rental income to entice buyers

    Real estate prices are likely to witness a correction in the coming festival season, according to a report put out in this newspaper on Monday, with p

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Undermining demographic dividend

Development and economic growth of nations is built upon the ...

Kuruvilla Pandikattu

Imperfection makes you more human

For all those who live in fear of making a ...

Shona Adhikari

Artistic focus on women's empowerment

The focus on the girl child remains an important one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture