)
India’s crude steel production witnessed a significant increase of 11.4 percent, reaching 11.7 million tonnes (MT) in November 2023, according to the World Steel Association (worldsteel). The country’s steel production from January to November also recorded a substantial growth of 12.1 percent year on year, reaching 128.2 MT.
Meanwhile, global steel production in November reached 145.5 MT, marking a 3.3 percent increase compared to the same month in 2022. The overall world output rose marginally by 0.5 percent, reaching 1,715.1 MT in the January to November 2023 period, as reported by worldsteel.
China, the largest steel producer, produced 76.1 MT of steel in November, representing a 0.4 percent increase compared to November 2022. From January to November, China’s production reached 952.1 MT, showing a 1.5 percent year-on-year growth.
On the other hand, Japan experienced a slight decline in steel output, with a 0.9 percent decrease in November, reaching 7.1 MT. The overall production in Japan during the January to November 2023 period was 2.8 percent lower at 80 MT.
In the United States, steel production reached 6.6 MT in November and 73.9 MT in the eleven-month period of 2023.
Russia produced 6.4 MT of steel in November and 70.2 MT from January to November 2023. South Korea’s production stood at 5.4 MT in November and 61.3 MT in the 11-month period of 2023.
Other notable steel producers in November included Germany with 2.7 MT, Trkiye with 3 MT, and Brazil with 2.7 MT.
Worldsteel, headquartered in Brussels, represents steel producers, national and regional steel industry associations, and steel research institutes. It has members in every major steel-producing country, accounting for approximately 85 percent of global steel production.
(Source: World Steel Association)
India’s steel production witnessed a significant growth of 11% in November 2023, reaching a total of 11.7 million metric tons (MT), as reported by Worldsteel. This surge in production indicates a positive trend in India’s steel industry, reflecting increased demand and improved manufacturing capabilities. The country’s steel sector plays a crucial role in supporting various sectors of the economy, including infrastructure, construction, and manufacturing. This growth in steel production signifies India’s strengthening position as a major global player in the steel market.
Disclaimer: Only the headline and content of this report may have been reworked by Newsearay, staff; the rest of the content is auto-generated from a syndicated feed. The Article was originally published on Source link
)
)