India’s crude steel output rises 4% in June

India’s crude steel output rose year-on-year by 4 per cent to 9.3 million tonnes, according to the World Steel Association

August 1, 2019

India’s crude steel output rose by 4 per cent to 9.3 million tonnes during June 2019

Availability of good quality iron ore and cost-effective labour drives India’s steel sector

In 2018, India had retained its position as the world’s third largest crude steel producer

Between June 18’ - June 19’, Global steel output rose by 4.6 per cent to 158.978 MT

Crude steel output in India increased by 4 per cent to 9.336 MT between June 2018 and June 2019, according to the finding of the World Steel Association. This was based on data reported by 64 major steel producing countries around the world. WorldSteel represents 85 per cent of global steel production, comprising of steel producers, national and regional steel industry associations, and steel research institutes.

Between June 18’ – June 19’, crude steel production for the 64 countries reporting to the World Steel Association increased by 4.6 per cent to 158.978 MT. In the last 5 years, India’s total crude steel production increased from 89 MT to 103.1 MT, due to many favourable factors. In 2018, India retained its position as the world’s third largest crude steel producer for the third consecutive year. 

The Indian steel sector is mainly driven by the domestic availability of raw materials, such as good quality iron ore and cost-effective labour. The sector has largely contributed to the ongoing growth and development of India’s manufacturing and industrial capabilities. The steel industry consistently prioritises modernisation and upgradation of older facilities in order to ensure optimum energy efficiency levels are being achieved.

In order to support the domestic steel industry, The Government of India has notified the National Steel Policy, 2017 and the Policy for Providing Preference to Domestically Manufactured Iron and Steel (DMI & SP) in the case of state procurement. These policies help create a favorable environment to improve domestic production and consumption of steel within the sector.

The Government also issued quality control orders, prohibiting the manufacturing and import of substandard or defective products. In addition, the Government intends to open up the commercial coal mining sector to private investment as it stands to greatly benefit the steel industry. Strengthening of India’s steel industry ensures it can continue to be one of the fastest growing global economies.

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