Japan Current Affairs

India becomes second largest manufacturer of crude steel

According to Steel Users Federation of India (SUFI), India has overtaken Japan to become world’s second largest producer of crude steel in February 2018. China is the largest producer of crude steel in the world, accounting for more than 50% of the production. Earlier in 2015, India had overtaken US to become third largest producer of crude steel.

Key Facts

India’s crude steel production stood at 93.11 million tonnes (MT) for period April 2017 to February 2018 and was up 4.4% as compared with April 2016-February 2017 period. This helped to overtake Japan and become second largest producer of crude steel in the world.

The growth in steel production was attributed to policies undertaken by government followed host of steps taken to curb imports, push local demand with initiatives like Make in India and implement GST and infrastructure projects, to encourage the domestic market.

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India becomes third largest producer of crude steel

According to recent report published by World Steel Association (WSA), India has overtaken US to become the world’s third largest steel producer in 2017. India’s crude steel production has grown by 6.2% to 101.4 million tonnes (MT) in 2017 compared to 95.5 MT in the previous year.

Key Facts

China has remained world leader by producing 831.7 MT in 2017, up 5.7% from 786.9 MT in the year-ago period.  Japan is second largest global steel producer and had witnessed negative growth in steel output declined by 0.1% to 104.7 MT in 2017 from 104.8 MT in 2016.

The Global steel production had reached 1,691.2 MT in 2017, up by 5.3% compared to 2016 when output was 1,606.3 MT. Crude steel production increased in all regions in 2017 except in CIS (Commonwealth of Independent States), which has remained stable.

World Steel Association (WSA)

WSA is a non-profit organisation and is one of the largest industry associations in world. Its members represent approximately 85% of the world’s steel production. It includes over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes. It was founded in July 1967 and is headquartered in Brussels, Belgium.

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