India's steel production grew by 4.8 per cent against the world average of 0.1 per cent expansion in November.
India produced 6.89 million tonnes (MT) steel in November compared to 6.57 MT in the same month of last year. During the month, world's steel output was at 130.52 MT against 130.42 MT a year earlier.
The subdued growth in the world average is mainly due to lower production by China, the largest producer and consumer of steel in the world. Steel production in China declined by 0.2 per cent to 63.30 MT in the month.
Notwithstanding the growth in production, India might end up as the world's fourth largest steelmaker in 2014, like in the past four years. China, Japan and the US produce more steel than India does.
With 76.19 MT production during January-November period of current year, India's position in the world order of steel production has not changed. China remains the top producer of the metal during the period at 748.67 MT.
Japan also maintains second position with a production of 101.66 MT and the US at the third slot with 80.95 MT during the first 11 months of current year. The sequence remains same for the last four years as well.
During November, Japan produced 9.17 MT steel, the US 7.2 MT, South Korea 5.91 MT and Russia 5.84 MT.
