In June 2013, steel output in India rose a mere 0.9 percent to 6.45 million tonne (mn t) from 6.39 mn t in the year-ago month.
It is learnt that during the month, India’s rate of growth in steel production declined below the world average.
Data from World Steel Association (WSA) shows global steel output touched 132 million tonne in June 2013, a 1.9 percent increase over June 2012.
In the six month period January-June 2013, the country posted a 2.5 percent growth in steel production to 39.63 mn t against 38.68 mn t in the same period in 2012. During the same period, world crude steel production was 789.8 mn t, an increase of 2 percent compared to June 2012.
WSA is a leading global steel body that represents approximately 170 steel producers, including 17 of the world’s 20 largest steel companies and its members represent around 85 percent of world steel production.
While other regions recorded negative growth in the first half of 2013, it was Asia which showed an increase of 5.5 percent.
China continues to grow because of its construction and infrastructure activity. In India, there exists latent demand for steel owing to lack of new infrastructure projects. This is a fundamental difference between India and other regions which are experiencing low demand, Kameswar Rao, Executive Director of PwC (energy, utilities & mining) said.
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