India Beats Japan To Become 2nd Top Steel Producer: Worldsteel
According to World Steel Association (worldsteel), the international trade body for the iron and steel industry, India has become the second largest steel producing country, replacing Japan. India is still behind China, which holds the top position for producing crude steel, reported The Times Of India. China provides more than 51 % of steel according to World Steel Association. According to the global steel body, crude steel output of China jumped 6.6 % to 928.3 million tonnes(MT) in 2018. In 2017, China’s production was 870.9 MT.
Worldsteel while emphasising on the increase in steel output of India said that India’s crude steel production in 2018 jumped up by 4.9% in comparison to that in 2017. This means that India has replaced Japan to become the world’s second-largest steel producing country. Japan produced 104.3 MT in 2018, which is 0.3 % down compared to 2017. Global crude steel production for the year 2018 reached 1,808.6 MT, which was 4.6% rise from 1,729.8 MT in 2017.
Apart from India, China, and Japan, other countries which featured on top 10 companies producing steel are the United States, South Korea, Russia, Germany, Turkey, Brazil, and Iran. United States sits at the 4th position by producing 86.7 MT of crude steel. South Korea was ranked fifth, as the country produced 72.5 MT. Russia was ranked sixth as it produced 71.7 MT. On the seventh spot, Germany was placed, which contributed 42.4 MT. Turkey was on the eighth spot, as it produced 37.3 MT. On the ninth and tenth spot, Brazil and Iran sat, as they produced 34.7 MT and 25 MT respectively.
Apart from these countries, Italy produced 24.5 MT of crude steel in 2018, France produced 15.4 MT, Spain produces 14.3 MT, and Ukraine produced 21.1 MT in 2018.
What is World Steel Association?
World Steel Association is one of the industry associations in the world. The members of the body represent around 85% of the world’s steel production, including over 160 steel producers with 9 of the ten largest companies, national and regional steel industry associations, and steel research institutes.