India's steel production grows at fastest pace
India had produced 70.115 million tonne (MT) steel till Nov 2012, clocking 4.2% growth

India outpaced all major steel producing nations, including China in terms growth rate till November last year, but its position in the world order may still remain at number four.

India had produced 70.115 million tonne (MT) steel till November 2012, clocking 4.2% growth over the first 11 months of the last year, according to the World Steel Association (WSA) data.

The second highest growth was recorded by the US at 3.2%, followed by Russia at 3%. China's steel production grew by 2.9 per cent. In South Korea, it grew by 1.6%.

Steel production growth is unlikely to swing very far in the annual figure to be released by WSA a fortnight from now.

During the January-November period of 2011, India's steel production had grown by 5.6% to 66.056 MT.

Barring Japan, which was hit by a super cyclone, all the major steel producing nations had staged a better show in 2011, growing by up to 17.9 per cent, compared to their January-November, 2012 performance.

The world order of steel production is also set to remain unchanged with China at the top, followed by Japan and the US, placing India at its last year's place - fourth.


Courtesy: Business Standard