Steel output grows 1.7% in July

India's steel production growth rate was on a par with the world average of 1.7 per cent in July, but it has to make big strides to bridge the first seven months' gap.

World Steel Association's latest figures showed global steel production grew on an average of 1.7 per cent in July. India's production also grew by 1.7 per cent to 6.96 million tonnes (mt) from 6.84 mt a year ago. The global steel production during July stood at 136.81 mt, compared to 134.52 mt in the same month last year. While the world's production grew by an average of 2.4 per cent to 960 mt from January-July, India recorded 1.4 per cent growth with a total production of 48.2 mt.