India's steel production rises 4.1% in May, global output falls 5%

India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World Steel Association (worldsteel).

Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed.

India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report.

Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually.

Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT.

While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023.

Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country.

It represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85 per cent of global steel production.