Global steel output declines 3.8% in July

World steel production dipped 3.8 per cent in July 2015 over the year-ago period, with China, which accounts for half the global output, registering an even sharper 4.6 per cent fall. July's decline in crude steel output continues the trend seen in the whole of this year, but is worrisome as it is steeper than earlier months.

Output for the first seven months fell 2.1 per cent to 945.8 million tonnes. However, India's steel sector managed to buck the global trend and showed a marginal 1.2 per cent rise in production during the month, according to latest data from World Steel Association, a Brussels-based body which collates production figures for 65 countries reporting to it.



In India, domestic steel production climbed up to 7.6 mt in July 2015 from 7.5 mt in July 2014. Apart from India, South Korea was the only exception among Asian countries posting a 1.7 per cent growth in steel production to 6 mt during the month.