The country’s crude steel production declined marginally by 1.1% and stood at 7.9 million tonnes (MT) in June. According to the latest report by World Steel Association, the steel output stood at 8 MT in the same month last year. However, the domestic production in the first six months of 2017 increased by 5.3% to 49.48 MT over 46.9 MT in the same period of 2016.
Global steel production for the 67 countries reporting to World Steel Association (worldsteel) was 141 MT in June this year, registering an increase of 3.2% over 136.6 MT in June 2016. For the first six months of 2017, global steel production stood at 836.0 MT, up 4.5% from 799.9 MT in the same period of 2016.
Further, the crude steel capacity utilization ratio of the 67 countries in June 2017 was 73%. This is 1.4% points higher than June 2016. Compared to May 2017, it is 1.3% points higher.
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