Indian steel output jumps 18.2% in Sept amidst a drop in global production

Indian steel output rose 18.2 per cent in September 2023 even as the global steel output took a small hit.

Global crude steel production decreased 1.5 per cent in September 2023 to 149.3 million tonnes (mt) against 151.7 mt in the corresponding period a year ago. For the January-September period, production in the 63 nations that account for 97 per cent of world steel output was pegged at 1,406.4 mt, up 0.1 per cent.

India reported a steep 18.2 per cent rise in production at 11.6 mt. Overall, for the January-September period, India’s steel output increased by 11.6 per cent at 104.1 mt.

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According to the World Steel Association, top producer China’s output stood at 82.1 mt in September, down 5.6 per cent from the year-ago period. For the January-September period, China’s output was 1.7 per cent higher at 795.1 mt.

Korea output surges

South Korea’s production soared by 18.2 per cent to 5.5 mt. While output in the US increased by 2.6 per cent at 6.7 mt, Japan’s output declined by 1.7 per cent at 7 mt. Russia and Germany reported production hike of 9.8 per cent and 2.1 per cent, respectively, at 6.2 mt and 2.9 mt year-on-year. The steel output in Turkiye too went up by 8.4 per cent at 2.9 mt.

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Steel production in Brazil and Iran went down by 5.6 per cent and 12.7 per cent, respectively, to end at 2.6 mt and 2.4 mt.

Region-wise, Africa, Asia-Oceania and the EU saw their output tumble by 4.1 per cent, 2.1 per cent and 1.1 per cent, respectively. The Middle-East and North America too saw their production decrease by 8.2 and 0.3 per cent while South America saw a decline of 3.7 per cent compared with September 2022 figures.