worldsteel Current Affairs - 2020

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Sajjan Jindal appointed Vice Chairman World Steel

Sajjan Jindal, Chairman and Managing Director, JSW Steel has been appointed as the Vice-Chairman of World Steel Association (Worldsteel). He is appointed for a period of one year. The association also elected YU Yong, Chairman, HBIS Group Co, as Chairman. Apart from this, the board also elected a 14-member Executive Committee.

Other elected members of association include– T V Narendran, Chief Executive Officer and Managing Director, Tata Steel, and Lakshmi Mittal, Chairman and Chief Executive Officer, ArcelorMittal. Furthermore, RL Steels and Energy Limited (India) elected as regular members and Steel Ministry’s Joint Plant Committee (JPC) as an affiliated member.

About World Steel Association (worldsteel)

It is international trade body for iron and steel industry and is one of the largest industry representations in world. It was established on 10 July 1967 and is headquartered in Brussels, Belgium.

The worldsteel members represent approximately 85% of world’s steel production, including more than 160 steel producers, national and regional steel industry associations and steel research institutes.

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World Steel Association Report: Key Facts

The World Steel Association has released a Report highlighting various trends related to the Industry, they are:

  • China is the largest producer of crude steel and it accounts for more than 51 per cent of global production. China’s share has been increased from 50.3 per cent in 2017 to 51.3 per cent in 2018.
  • The production in China increased by  6.6 per cent from 870.9 MT in 2017to 928.3 million tonnes (MT) in 2018.
  • India has replaced Japan as the world’s second-largest steel producing country.
  • The Steel production in India increased by 4.9 per cent from 101.5 MT in 2017 to 106.5 MT in 2018.
  • The global crude steel production increased by 4.6 per cent from 1,729.8 MT in 2017 to 1,808.6 MT in 2018.
  • Other countries in the Top 10 list of steel producing nations include US at United States, at the 4th position as the country produced 86.7 MT of crude steel in 2018, South Korea (72.5 MT, 5th place), Russia (71.7 MT, 6th), Germany (42.4 MT, 7th), Turkey (37.3 MT, 8th), Brazil (34.7 MT, 9th) and Iran (25 MT, 10th).
  • Among other countries, Italy produced 24.5 MT of crude steel in 2018, France (15.4 MT), Spain (14.3 MT), and Ukraine (21.1 MT).

World Steel Association

The World Steel Association (worldsteel) is a non-profit organisation with headquarters in Brussels, Belgium. Founded as International Iron and Steel Institute on 10 July 1967, it changed its name to the World Steel Association on 6 October 2008.

It represents over 160 steel producers (including 9 of the world’s 10 largest steel companies), national and regional steel industry associations, and steel research institutes and the members cover around 85% of world steel production.

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