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India’s July steel output rises 1.9% to 14.4 mt
India's crude steel production rose 1.9% year-on-year to 14.4 million tonnes in July, even as global output dipped 0.3%, data from the World Steel Association showed. India remained the world's second-largest producer,…
India's crude steel production rose 1.9% year-on-year to 14.4 million tonnes in July, even as global output dipped 0.3%, data from the World Steel Association showed. India remained the world's second-largest producer, with January-July output up 6.1% at 101.1 mt.
China, the top producer, saw output fall 3.6% in July to 76.9 mt, dragging down Asia's overall numbers. The US, Turkey, Germany and Vietnam also recorded growth. Global production for January-July stood at 1,081.2 mt, down 0.6%.
The World Steel Association has forecast global steel demand to grow only 0.3% in 2026 before accelerating to 2.2% in 2027.
Indian Opinion Analysis
India's steady steel output growth comes as China, which produces over half the world's steel, continues to cut production amid a prolonged property sector downturn. India's January-July output of 101.1 mt already exceeds full-year production of most countries. With domestic infrastructure and manufacturing demand rising, India is on track to add fresh capacity. The next milestone is the World Steel Association's short-range outlook due in October, which will update demand forecasts for 2026 and 2027.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
