India’s steel production have grown last year, due to which India becomes worlds third largest producer of crude steel. India has overtaken US and now is behind China and Japan only. The report of largest steel producers of world was released by World Steel Association.
As per the report, production of steel in India has grown by 6.2 per cent in 2017 as compared to previous year 2016. In terms of tonnes, in 2017 India has produced 101.4 million tonnes (MT) of Steel whereas in previous year 2016 the total steel production of India was 95.5 MT.
On the other hand China remained world leader in steel production with total production of 831.7 MT in 2017 which has grown by 5.7% in comparison to 2016 production which was 786.9 MT.
After China, it is Japan with 104.7 MT steel production in year 2017. However production growth is negative by 0.1 per cent for Japan in 2017 as compared to 2016.
On global basis, total steel production in world has increased by 5.3% and has reached to 1,691.2 MT for the year 2017. In 2016 it was 1,606.3 MT.
India with such a good growth in steel production is now aiming to replace Japan to become second largest producer of steel in world.