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India produced 7.25 MT for the month of March, recording a growth of 3.9% compared to same period last year, ahead of world top producer China with a growth rate of 2.2%.
India, which is the fourth largest steel producer, is also closing in gap with the US -- the third largest producer with steel production at 7.4 MT at a growth rate of just 0.9%. The steel production across the world grew by 2.7% with total production standing at 141 MT, according to data by World Steel Association for 65 countries across the world.China produced nearly half of the global steel production at 70.3 MT in March this year, up by 2.2% compared to the same month last year.
Japan, the second largest producer, stood at 9.7 MT with a growth rate of 2.9% "The crude steel capacity utilisation ratio in March this year was 79%," WSA said.
