NEW DELHI (TIP): India, the world’s fourth largest steel maker, logged 5.86 per cent growth in production in 2012-13 – the highest among major global producers, World Steel Association has said. According to WSA, India produced 78.12 million tonne (MT) steel during the fiscal as against 73.39 MT in 2011-12. China had produced the maximum steel during the fiscal at 726.33 MT, almost half of the world’s total output of 1,521 MT; but India outpaced the neighbour in the rate of growth.
Production in China grew by 5.39 per cent during 2012-13 over 689.192 MT in 2011-12. Global production grew by 1.59 per cent during the fiscal. World’s second largest steel maker Japan produced 107.30 MT in 2012-13, clocking 0.78 per cent growth over 106.46 MT produced in the previous fiscal.
The US, the world’s third largest steel producing nation, clocked a negative rate, down 1.61 per cent, during the fiscal at 86.94 MT compared to 88.36 MT a year ago. Russia produced 69.56 MT steel in 2012-13, recording just 0.17 per cent growth over the previous fiscal. South Korea has also clocked a de-growth of 1.62 per cent to produce 68.15 MT steel during the year.