India produces 11.2 MT crude steel, up 4.1 per cent over May 2022
India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World Steel Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel-producing country in May with 90.1 MT crude steel production, worldsteel data showed.
Read More: Three board members quit Byju’s, Deloitte steps down as auditor: Report
India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan’s output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually.
Read More: How to Invest in Gold in 2023: Benefits, Risks, Tax Implications and Returns Compared
Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023.
Read More: Gold Prices Fall On June 23: Check 24 Carat And 22 Carat Gold Rates In Your City
Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. It represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85 per cent of global steel production.
