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Global Crude Steel Production Rises 5.3% In 2017 : World Steel Association

SHAHNAWAZ | 0
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| January 25 , 2018 , 22:22 IST

Global Crude Steel Production reached 1,691.2 million tonnes for the year 2017, up by 5.3% as compared to the 2016 figures as per the latest World Steel Association statistics.

The percent increase in crude steel production was higher in India as compared to other major steel producing nations. Indian steelmakers produced 101.4 million tonnes of crude steel in 2017, up by 6.2% as compared to 2016.

China continues to have a dragon’s share in the global steel production, it’s share of world crude steel production increased from 49.0% in 2016 to 49.2% in 2017.

 

India’s share in world crude steel production rose from 5.9% in 2016 to 6% in 2017. India is slowly inching towards becoming number two in the global share as India’s output is on the rise and Japan which is presently number 2 is witnessing a gradual decline in its crude steel production.

While the World Crude Steel Production went up marginally by 0.8% in 2016, Indian steel output went up by 7.4%. India had 5.5% share in the global steel production in 2015 which in 2016 rose to 5.9% and 6% in 2017. Japan on the other hand saw a gradual decline in its share. Japan accounted for 6.5% of global steel output in 2015 which went down to 6.4 in 2016 and 6.2% in 2017.