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India’s steel production declined for the second consecutive month in February as global crude steel output continued its downslide.
According to World Steel Association (worldsteel), crude steel production in the 63 nations reporting to it dropped one per cent to 142.4 million tonnes(mt) in February.
For the January-February period of the calendar year, the output slid by 0.8 per cent to 297.8 mt.
Data released by worldsteel showed that production in India decreased by 1 per cent to 10 mt. For the first two months, the output is down one per cent at 21.3 mt. In January, the production dipped marginally.
China is estimated to have produced 80 mt of crude steel in February, up 5.6 per cent from a year ago. Its total production this year is up by a similar margin to 168.7 mt.
Steel production in China has been rising this year after a 2.1 per cent drop in 2022. In January, its production was up 2.3 per cent and that way, data show that China’s industrial production is gathering pace.
US, Japan too fall
Steel production in Japan and the US, too, continued to decline by 5.3 per cent each. Japanese output was pegged at 6.9 mt and that of the US at 6 mt.
Russian production was estimated at 5.6 mt, down 8.6 per cent year-on-year. South Korea’s output dropped by 1.1 per cent at 5.2 mt. Germany’s production was estimated to have slipped by 6.9 per cent at 3 mt.
Brazil’s output slid 6.7 per cent to 2.5 mt. Iran’s positive show continued with its steel production rising 14.6 per cent to 2.4 mt.
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