Global steel production grew 1.1% in January-March to 377 million tonnes

NEW DELHI: Global steel production grew by a meagre 1.1 per cent during the January-March period of the year to 376.76 million tonnes compared to the corresponding period last year, World Steel Association (WSA) data said.

Global steel production was 372.77 million tonnes in the same period last year.

WSA members produce 85 per cent of the world's steel. Asia produced 241.7 million tonnes nearly 56 per cent of the total output. The growth in Asia was 1.5 per cent.

Among the Asian countries, China produced 174.21 million tonnes, recording a 2.5 per cent growth. India's output remained stagnant at 18 million tonnes.

The European Union produced 43.9 million tonnes, down by 3.9 per cent.

Production in the US also grew by 8.3 per cent to 23.01 million tonnes.

During March, the world steel production was at 132 million tonnes, an increase of 1.8 per cent compared to March 2011. India's production grew marginally to 6.2 million tonnes in the month from 6.1 million tonnes in March last year.

"Compared to March 2011, the capacity utilisation ratio in March 2012 decreased by 1.2 per centage points," it said.