| However, mirroring the international trend, the output slowed down in September in comparison with August this year, which saw a hike of 39.6 per cent increase in crude steel production on a year on year basis. |
| For the first nine months the total steel production was 27.466 million tonne as against 23.969 million tonne, registering an increase of 14.6 per cent. |
| In China, production grew by 22.3 per cent in September as against a 26.8 per cent increase in August this year. |
| The total steel produced in the first nine months of the year was 255.286 million tonne in comparison with 200.397 million tonne in the corresponding period in 2004, thereby registering a hike of 27.4 per cent. |
| According to a press release by the International Iron and Steel Institute (IISI), the world crude steel production was estimated to be 92.121 million tonne in September, as against 88.973 million tonne in the same month last year, an increase of 3.5 per cent. |
| Total global steel production also increased by 6.3 per cent for the nine months, as the production this year was 8,18.146 million tonne compared with 770.210 million tonne by September end last year. |
| Asia reported the highest increase in growth, at 14.3 per cent. |
| The five countries of the region, out of the total 61 countries that report to IISI, produced 48.21 million tonne of steel in September compared with 48.39 million tonne produced in same month last year. |
| The total steel produced in the region for the first nine months of the year was 417.094 million tonne as against 357.883 tonne in same period last year, a rise of 16.5 per cent. |
| Analysts refuse to attribute the slowdown in production growth as a cause of worry. An Analyst at a Mumbai-based agency says that "the growth in production is on a higher base and this growth in volume terms is not really a cause of concern until it has an impact on the profitability of a company." |
Top Section
Explore Business Standard