India Records 11.4% Surge In Crude Steel Production, Reports Worldsteel
In a positive development for India's industrial sector, the World Steel Association (worldsteel) has reported an 11.4 per cent increase in the country's crude steel production, reaching 11.7 million tonnes in November 2023. According to Worldsteel's latest report, India's cumulative production during January-November registered a remarkable 12.1 per cent YoY increase, totaling 128.2 million tonnes.
Globally, steel production for November 2023 reached 145.5 million tonnes, reflecting a 3.3 per cent increase compared to the same month in 2022. The overall world output in the first eleven months of 2023 rose marginally by 0.5 per cent, reaching 1,715.1 million tonnes.
China, a major player in the global steel market, produced 76.1 million tonnes of steel in November, marking a 0. 4 per cent increase over the same period last year. China's cumulative production for January-November stood at 952.1 million tonnes, indicating a growth of 1.5 per cent YoY.
In contrast, Japan experienced a 0.9 per cent decline in steel output in November, reaching 7.1 million tonnes. The overall production in Japan during January-November 2023 was 2.8% lower at 80 million tonnes.
The United States produced 6.6 million tonnes of steel in November, contributing to a total output of 73.9 million tonnes in the first eleven months of 2023.
Russia and South Korea also demonstrated notable performances, with Russia producing 6.4 million tonnes in November and 70.2 million tonnes in January-November 2023. South Korea's production for November was 5.4 million tonnes, totaling 61.3 million tonnes in the eleven months of 2023.
In November, Germany contributed 2.7 million tonnes, Türkiye produced 3 million tonnes, and Brazil produced 2.7 million tonnes of steel.
Worldsteel, headquartered in Brussels and representing steel producers, national and regional steel industry associations, and steel research institutes, has members in every major steel-producing country, covering approximately 85 per cent of the global steel production.
