India's production of 7.08 MT recorded a growth rate of 1.6% in May 2014 compared with the same month last year when the production was 6.96 MT. India's steel production in May was also lower as compared to the global average of 2.2%.
China, which contributes nearly half of the world's steel production, produced 70.4 MT in May, recording 2.6% growth in production compared with the same month last year.
During the January-May period, India produced 34.68 MT of steel against the global output of 684.23 MT, and 1.9% higher than corresponding period of previous year, while the world's average growth rate was 2.4% during the first five months.
As per WSA data Japan's output was 9.6 MT in May, down 0.3% over the same month a year ago. South Korea's was 6.2 MT, up 11.4%.
The US produced 7.5 MT in May 2014, an increase of 1.4%. Brazil's output was 2.9 MT, down 4.3% over the same month last year.
Among European Union (EU) nations, Germany produced (3.9 MT), Italy (2.3 MT), France (1.4 MT) and Spain (1.3 MT) in May this year. Russia produced 6.1 MT steel, clocking an increase of 0.6%. Ukraine's output was 2.8 MT.
Powered by Capital Market - Live News