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India's steel output growth at 4.7% lags world average

NEW DELHI: Steel production growth in India fell short of the world average in September with the country clocking 4.7 per cent growth compared to the world average of 6.1 per cent. 

According to 
World Steel Association(WSA), India's steel output grew to 6.54 million tonnes (MT) in September from 6.24 MT during the same month last year. 

Growth in world's steel output, on the other hand, rose faster at 6.1 per cent during the month to 132.54 MT compared to 124.93 MT a year earlier. 

This was largely led by 
China which produced 65.42 MT steel in the reporting month clocking an 11 per cent growth over the same month last year. China had produced 58.9 MT steel in September, 2012. 

In fact, India's growth in production was lower evn when compared with its Asian peers. Overall, Asia produced 88.31 MT steel during the month, up by 8.9 per cent over 81.08 MT in the same month last year. 

The US produced 7.2 MT steel in September 2013, up by 6.3 per cent compared to September 2012. 

"The crude steel capacity utilisation ratio in September 2013 was 79.3 per cent and it is 2.1 percentage points higher compared to September 2012," WSA said.