SMM2, January 1-India has overtaken Japan to become the world's second largest steel producer, according to the latest analysis of crude steel production by the World Iron and Steel Association. China remains the largest producer of crude steel, accounting for more than 51 per cent of global output.
Other countries in the top 10 steel producers included the United States, which ranked fourth, with crude steel production of 86.7 million tons, while South Korea ranked fifth with crude steel production of 72.5 million tons.
For several years, India's steel industry has been on a positive track because of the rapid development of India's infrastructure and the need for raw materials such as steel, coal and cement. India's steel minister said at a recent meeting that India is expected to overtake the United States in steel consumption this year.
In his release of the 2019 fourth edition of the Indian Iron and Steel (India Steel) report, Indian Minister Chowdhury Bulend Singh (Chaudhary Birender Singh) pointed out that due to strong manufacturing, demographic diversification of demand and accelerated infrastructure spending, Steel consumption in India is on the rise.
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