Steel production up 6.5% in March: World Steel Association

Domestic steel production grew by 6.5 per cent in March -- the fastest pace of growth in the last three months -- to 6.86 million tonnes (MT). The country, world's fourth largest steel producer, had produced 6.44 MT in March, 2012, industry body World Steel Association said in a release today.

Steel production grew by 3.8 per cent in January while in February it dropped by 0.5 per cent over the year ago period. India produced 6.6 MT steel in January and 6.2 MT in February, 2013.

Meanwhile, global steel production grew by one per cent in March to stand at 134.88 MT against 133.49 MT a year earlier. China produced nearly half of the global production at 66.29 MT during the month, clocking 6.6 per cent growth over the same month last year, the World Steel Association figures revealed.

During the January-March period of current year, global steel production went up by 2.3 per cent to 388.696 MT from 380.058 MT in the corresponding period a year ago.

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