India has overtaken the US to become the world’s third-largest steel producer and the country is now looking to bag the second spot from Japan. Country’s crude steel production grew by 6.2 per cent to 101.4 million tonnes, MT, in 2017 compared to 95.5 MT in the previous year.
A report by World Steel Association said, Japan, the second largest global steel producer, witnessed a negative growth as steel output declined by 0.1 per cent to 104.7 MT in 2017 from 104.8 MT in 2016.
Global steel production reached 1,691.2 MT for the year 2017, up by 5.3 per cent compared to 2016 when the output was 1,606.3 MT. China remained the world leader by producing 831.7 MT in 2017, up 5.7 per cent from 786.9 MT in the year-ago period.