India’s steel production rises 8.1% in July( 14:00, 24-Aug-16)
The production of crude steel in the country grew by 8.1% in July compared to the corresponding period a year ago, as per data compiled by World Steel Association (WSA). India’s output stood at 8.1 million tonnes (MT). The global production witnessed a marginal growth of 1.4% and stood at 133.7 MT, despite not-so-strong demand in the domestic market.
The report highlighted that China’s output stood at 66.8 MT (up 2.6%), while Japan produced 8.9 MT, (up 0.5%). South Korea produced 6 MT of crude steel last month (up 1.5%), while Turkey produced 2.7 MT, a rise of 6.5% since July last year.
The report, which looked at 66 countries, found the global capacity utilization ratio was stagnant at 68.3%, although there was 3.7% fall on a sequential basis. In the European Union, Germany’s output was 3.4 MT (down 6.1%), while that of the UK was a meager 0.7 MT (down 27.3%). Meanwhile, output in US was 6.9 MT (down 2.2%).Powered by Capital Market - Live News