India outpaces major steel producers with 5.8% growth in FY'13

According to WSA, India produced 78.12 million tonne steel during the fiscal year.

India, the world's fourth largest steel maker, logged 5.86% growth in production in 2012-13 - the highest among major global producers, World Steel Association has said.
     
According to WSA, India produced 78.12 million tonne (MT) steel during the fiscal as against 73.39 MT in 2011-12.
     
China had produced the maximum steel during the fiscal at 726.33 MT, almost half of the world's total output of 1,521 MT; but India outpaced the neighbour in the rate of growth.
     

Production in China grew by 5.39% during 2012-13 over 689.192 MT in 2011-12. Global production grew by 1.59% during the fiscal.

     
World's second largest steel maker Japan produced 107.30 MT in 2012-13, clocking 0.78% growth over 106.46 MT produced in the previous fiscal.
     
The US, the world's third largest steel producing nation, clocked a negative rate, down 1.61%, during the fiscal at 86.94 MT compared to 88.36 MT a year ago.
     
Russia produced 69.56 MT steel in 2012-13, recording just 0.17% growth over the previous fiscal. South Korea has also clocked a de-growth of 1.62% to produce 68.15 MT steel during the year.