Economy

India’s crude steel output falls 39 per cent to 5.8 MT in May

PTI New Delhi | Updated on June 23, 2020 Published on June 23, 2020

Representative images   -  Udit Kulshrestha

World Steel Association further said the global steel output in May 2020 was also down by 8.7 per cent

Declining for the third straight month, the country’s crude steel output fell 39 per cent to 5.76 million tonne (MT) in May, according to World Steel Association (worldsteel).

India observed a nationwide lockdown from March 25 onwards, which impacted production, demand and supplies of steel in the country.

The country had produced 9.46 MT of crude steel during the same month a year ago, worldsteel said in its latest report.

At 5.76 MT in May, India’s output was down for the third straight month since March.

In March, India produced 8.65 MT of crude steel, down 14 per cent from 10.4 MT in the same month previous year. The country in April produced 3.13 MT steel, registering over 65 per cent fall as compared to 9.02 MT.

The World Steel Association further said the global steel output in May 2020 was also down by 8.7 per cent to 148.77 MT as compared with 163.01 MT.

It also said, “Due to the ongoing difficulties presented by the Covid-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update .

Global steel giant China has registered a rise of 4.2 per cent in its output at 92.26 MT in May as against 88.56 MT.

“India produced 5.76 MT of crude steel in May 2020, down 39.1 per cent from 9.46 MT in May 2019,” it said.

In May, the United States produced 4.79 MT of crude steel, registering a fall of 36.6 per cent as compared with 7.55 MT in the year-ago month.

Japan produced 5.91 MT of crude steel production in May 2020, down 31.8 per cent from 8.67 MT.

South Korea produced 5.38 MT crude steel, down 14 per cent from 6.27 MT in May 2019.

In the EU, worldsteel said Germany estimated 2.85 MT of crude steel production in May 2020, down by 18.9 per cent. Italy produced 1.25 MT of crude steel in March 2020, down 43.6 per cent.

France estimates 0.784 MT of crude steel production in May 2020, a 36.5 per cent decrease compared. Spain’s production fell 33.7 per cent to 0.833 MT of crude steel in May 2020.

Russia estimates 6 MT of crude steel production in May 2020. Ukraine produced 1.63 MT of crude steel, Brazil produced 2.18 MT and Turkey’s crude steel production for May 2020 was 2.27 MT, it said.

Published on June 23, 2020
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