World Steel report is released – India’s steel output declined by 65%

Global steel output also declined 13 % to 137.09 MT as compared with 157.67 MT

• The World Steel Association released the World Steel Report – 2020. As per the report, the crude
  steel report of India declined by 65%
• The government imposed a nationwide lockdown on March 25 to prevent spread of the corona
  virus pandemic which has impacted production, demand and supply of steel in India
• The country had produced 9.02 MT of crude steel during the same month a year ago, the World
  Steel Association (world steel) said in a report

Key findings of the World Steel Report – 2020

• World crude steel production was 443.0 Mt in the first three months of 2020, down by 1.4%
  compared to the same period in 2019
• Asia produced 315.2 Mt of crude steel in the first quarter of 2020, a decrease of 0.3% over the
  first quarter of 2019
• The EU produced 38.3 Mt of crude steel in the first quarter of 2020, down by 10.0% compared to
  the same quarter of 2019
• North America’s crude steel production in the first three months of 2020 was 29.5 Mt, a
  decrease of 4.0% compared to the first quarter of 2019
• China’s produced 79.0 Mt of crude steel in March 2020, a decrease of 1.7% compared to March
  2019
• India estimates 8.7 Mt of crude steel production in March 2020, down 13.9% on March 2019
• Japan estimates 8.2 Mt of crude steel production in March 2020, down 9.7% on March 2019
• South Korea produced 5.8 Mt of crude steel in March 2020, down 7.9% on March 2019
• In the EU, Germany estimates 2.9 Mt of crude steel production in March 2020, down 20.9% on
  March 2019
• Italy produced 1.4 Mt of crude steel in March 2020, down by 40.2% on March 2019
• France estimates 1.2 Mt of crude steel production in March 2020, a 13.2% decrease compared
  to March 2019
• Spain produced 1.2 Mt of crude steel in March 2020, down 14.6% on March 2019
• The US produced 7.2 Mt of crude steel in March 2020, a decrease of 6.0% compared to March
  2019
• Russia estimates 5.9 Mt of crude steel production in March 2020, down 4.4% on March 2019
• Ukraine produced 1.8 Mt of crude steel in March 2020, down 10.3% on March 2019
• Brazil produced 2.6 Mt of crude steel production for March 2020, down by 8.2% on March
  2019
• Turkey’s crude steel production for March 2020 was 3.1 Mt, up by 4.1% on March 2019

Key findings about India’s crude steel productions status

• India’s crude steel output declined over 65 per cent to 3.13 million tonnes (MT) during April,
  according to the World Steel Association
• The government imposed a nationwide lockdown on March 25 to prevent the spread of the
  corona virus pandemic which has impacted production, demand and supply of steel in India
• The country had produced 9.02 MT of crude steel during the same month a year ago
• India had posted a 14 per cent decline in steel output at 8.65 MT in March as compared with
  10.04 MT in March 2019

National Steel Policy

• India is currently operating under its National Steel Policy 2017
• Under the policy, India is to increase its steel production to 300 million tonnes by 2030
• It also aims to make India self-sufficient in steel
• It also aims to build a globally competitive steel industrial output in the country

Pic courtesy : india.com