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With high production in May, India among top 10 steel producers

With high production in May, India among top 10 steel producers

World crude steel production fell for the eleventh consecutive month in May this year, with nine of the top 10 producers, led by China, reporting lower output.

Data from the World Steel Association (WorldSteel) showed India was the lone exception, with production rising 17.3 percent to 10.6 million tonnes (mt).

Steel production in 64 countries reporting to the association declined 3.5 percent to 169.5 million tonnes as of May 2021. However, production was higher month-on-month. In April, global production stood at 162.7 million tonnes.

World steel production has been falling since July last year as production in China, which contributes more than 50 per cent, has been falling since the last quarter of 2021. The last time steel production grew by 11 per cent was in June 2021.

For the first five months of 2022, global steel production fell 6.3 percent year-on-year to 791.8 million tonnes. This is slightly better than the situation in the first four months, when it had declined by 7.1 per cent.

The decline in China’s output once again reflects a global decline. It fell to 96.6 million tonnes against 99.5 million tonnes in the year-ago period. For the January-May period, its production stood at 435 million tonnes as against 473.1 million tonnes, down 8.7 per cent.

highest in 2022

However, China’s production is at its highest for the year. It produced 92.8 million tonnes in April, 88.3 million tonnes in March, 83 million tonnes in February and 81.7 million tonnes in January. This year’s fourth wave of Covid and the ensuing lockdown has affected production in the communist nation.

Sugar production could improve further this month as Beijing imposed a lockdown in important cities such as Shanghai from June 1.

Indian steel production was also higher month-on-month, at 10.1 million tonnes in April, but lower than the 10.9 million tonnes produced in March and 10.8 million tonnes in January. In February, India produced 10.1 million tonnes.

positive attribute

For the first five months, India’s production grew by 6.5 percent year-on-year to 53.2 million tonnes (48.6 million tonnes). However, the positive feature of India’s production is that it has been hovering above 10 million tonnes since December 2021.

Among other countries, Japan’s production declined by 4.2 percent to 8.1 million tonnes, while the US output declined 2.6 percent to 7.2 million tonnes. Russia is estimated to have produced 6.4 million tonnes, a decline of 1.4 per cent on a year-on-year basis.

Iran recorded the biggest drop at 17.6 percent. Its production declined to 2.3 million tonnes in May as compared to 2.6 in the year-ago period. Germany followed with a fall of 11.5 per cent. It produced 3.2 million tonnes (3.5 million tonnes in May 2021).

Turkey (down 1.4 per cent) and Brazil (-4.9 per cent) also saw production decline in May.

Published on

23 June 2022

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With high production in May, India among top 10 steel producers

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