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India's July steel output growth rate better than world average

NEW DELHI: India's steel output outshinedthe world average in July but lagged behind the Chinese rate of growth, according to data compiled by World Steel Association (WSA).

Clocking 4.3 per cent growth, India's steel production stood at 6.6 million tonnes (MT) in July this year compared to 6.3 MT a year earlier, the date showed. 

On the other hand, global production of the metal grew by 2.7 per cent to 132.3 MT during July compared to 128.86 MT in July last year, led largely by a 6.2 per cent rise in Chinese production. 

India's steel production growth rate during January- July period was also higher over the world's average growth during the period. For India, it was 7.4 per cent at 46.26 MT and 3.5 per cent for the world at 921.64 MT. 

Meanwhile, China, as usual, produced the maximum quantity of steel in the world during July at 65.47 MT. Japan produced 9.3 MT and South Korea 5.5 MT, a dip of 5.8 per cent. 

European Union nations, Germany produced 3.4 MT, Italy produced 2.2 MT and France produced 1.3 MT. 

Turkey's crude steel production for July 2013 was 2.8 MT, a dip of 10 per cent compared to July 2012. 

Russia produced 5.7 MT, a dip of 2.4 per cent and Ukraine produced 2.8 MT. The US produced 7.6 MT of steel in July 2013, up 3.3 per cent in July 2012. Brazil produced 2.9 MT, a dip of 1.4 per cent. 

"The crude steel capacity utilisation ratio in July 2013 declined to 76.8 per cent from 79.2 per cent in June 2013," WSA said.