India's steel output falls 1.5% in Jan; 1st decline since Sept

Steel production in India, the world's third-largest producer, fell by 1.5 per cent to 7.4 million tonnes (MT) in January 2016 compared with the output in the same month last year.
This is the first fall since September 2015, when the crude steel production in the country had declined by 0.5 per cent to 7.3 MT as against the corresponding month of 2014.
According to the latest data by the Joint Plant Committee (JPC), under the Steel Ministry, overall crude steel production fell 1.5 per cent in January 2016, impacted by a decrease of 1.7 per cent in case of other producers, while output fell by 1.4 per cent in the case of Integrated Steel Plant (ISP) producers.

However, compared to December 2015, the output was up 1.5 per cent, led by an increase of 3.5 per cent in case of ISP producers, it added.
The overall crude steel production in December 2015 stood at 7.5 MT, an increase of 0.4 per cent compared to the same month in 2014.
Compared to November 2014, the overall production of the metal grew by 2.1 per cent in November 2015 to 7.3 MT, while the output rose by 4.9 per cent to 7.5 MT in October last year against the same month of 2014.
As per the latest data by global industry body World Steel Association (WSA), India's crude steel production was 7.4 MT, a decrease of 1.2 per cent compared to January 2015.

Globally, total production in the 66 countries, reporting to the WSA, stood at 128 MT last month, a 7.1 per cent decrease compared to January 2015, according to the association.