Global steel production grew by 2.36 per cent in July to 130 million tonnes (MT) compared to 127 MT in the same month last year, leading industry body World Steel Association (WSA) said today.
With this, world’s steel production rose to 897 MT in the first seven months of the current year, a growth of just one per cent over 888 MT recorded during the January—July period of last year, WSA data revealed.
The rise in July production is mainly buoyed by a 3.8 per cent growth in output in Asia, which produced 85 MT steel out of the total global production during the month. However, the production dipped in the European Union, South America and the Middle East.
Among the Asian nations, production in China rose by 4.2 per cent to 61.7 MT. India’s output grew by 5.4 per cent to 6.5 MT. Japan and South Korea produced 9.3 MT and 5.9 MT, up by 1.2 per cent and 4.4 per cent respectively over a year ago.
In the European Union, Germany produced 3.6 MT, down 2.1 per cent. Spain and the UK produced 1 MT and 0.9 MT. Output in Turkey was 3.1 MT, a 9.7 per cent rise over July 2011.
Russia’s steel production grew by 3.6 per cent to 5.9 MT compared to the same month last year. It was 7.4 MT in the US.