The World Steel Association (WSA) has released steel production data for the first 9 months of the year.
At 62.41 million tons (mt), the top 3 were China, Japan and the US. India was number 4.
In terms of production growth rate, though, India was in a slightly better position than the other top producers. The WSA data revealed that India’s steel production had grown by 1.8% over the first 3 quarters of 2014, which was the second-highest among the top 4 steel-producing nations. Last year, in the same period, India produced 61.27 mt of steel.
Still, India was no match for the world`s top producer, China, which produced 618 mt of steel, slightly more than half of the world’s total production of 1,231 mt. China also logged a 2.3% steel production growth.
Japan, the second-largest producer with 83.1 mt, did not have good growth figures, achieving a mere 0.8 % growth rate. Last year, in the same period, it had achieved a production rate of 82.4 mt.
The US stood at number 3 with production figures of 66.33 mt compared to 65.3 mt in the same period last year. Its steel producing capacity grew by 1.6%.
Russia and South Korea were tied at the 5th slot with 53.4 mt and 53.2 mt, respectively. But the latter managed to log an impressive 9.4% growth, the highest among major steel producing nations, while Russia managed 3.1%, according to the WSA report.
India’s steel companies were hardly cheering at getting fourth place in the world. All their attention these days, it seems, is focused on China and the happenings there. China’s factory output in August this year was the slowest ever in the last 6 years. In September, even its steel production remained static at 67.5 mt as compared to September 2013, according to the WSA data.