India's steel output down 3.2% in Feb

Tags: Steel, Industry
India's steel production declined by 3.2% while globally it averaged a 0.6% rise in February mainly due to higher Chinese output.

India, world's fourth largest steel producer, logged an output of 6.28 million tonnes (MT) in February, compared to 6.48 MT a year ago, premier industry body World Steel Association (WSA) said in a release last evening.

India's production in the first two months of 2014 is at 13.23 MT, down 1.5%, compared to 13.44 MT in January- February last year.

Global production of steel increased by 0.6% during the month compared to 124.27 MT during February, 2013.

"China's crude steel production for February 2014 was estimated at 62.1 MT," WSA said. Japan produced 8.4 MT, a rise of 1.4% over February 2013. South Korea produced 5.3 MT, up by 6.2% over February 2013.

The total production by Asian nations went up by 0.6% to 83.70 MT against 83.17 MT during the month.

European Union's production also increased by 4.7% to 13.87 MT over 13.25 MT a year ago. Germany produced 3.6 MT, Italy 2.2 MT, France 1.2 MT and Spain produced 1.2 MT among others.

Turkey's crude steel production for February 2014 was at 2.7 MT, up by 0.7% over February 2013, WSA said.

Russian output was 5.3 MT, a dip of 3.1%. Output by Ukraine was 2.3 MT in February 2014, down by 10.7%.

The US produced 6.7 MT steel in February 2014, down by 1.7%. Brazil's output was at 2.6 MT, a rise of 1.2% compared to February, 2013.

"The crude steel capacity utilisation ratio in February was 77.6%," WSA said.

EDITORIAL OF THE DAY

  • India cannot afford to ignore the looming Greek crisis

    The crisis in Greece may not have a direct bearing on the Indian economy because the trading or banking exposure of Indian companies to that nation is

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

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Kuruvilla Pandikattu SJ

The transforming qualities of love

The 2015 Templeton Prize has been awarded to Canadian thinker ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture